More evidence house prices are too high

MFW_ASAP

shortchanged wrote: »

Yes which is why the rebuild costs should be less than the actual value of the house because the actual value includes the plot of land the house is already sitting on. So it highlights the point that house building costs have now become ridiculous for whatever reasons.

Unless your house falls into a black hole, there is going to be some sort of demolition and site clearing costs. These costs have gone up hugely since the days when you could just dump the rubble in a landfill and forget about it.

Other costs could occur depending on why the house needed to be demolished. If the house subsided due to a coal mine collapse, then remedial groundworks will have to take place such as pilings, etc.

There are probably many more examples of why it costs more to rebuild than build, but I'm guessing you now have your eyes closed, your fingers in your ears and you're shouting 'La la la la', so I won't go into it further.