AQW 2809/22-27


Ms Claire Sugden
Independent
East Londonderry


Tabled Date: 05/09/2022
Answered On Date: 16/09/2022
Priority Written: No


Question:
To ask the Minister for Communities to detail the average construction cost of a Housing Executive property in each of the last five years.


Answer:
In the table below I have provided details of the total cost to deliver a new social housing unit based on the Departments Total Cost Indicator (TCI) methodology.
It is based on the acquisition and works costs for a general needs 2 storey 3 person/2 bedroom house. I have broken the cost down by the 3 components that make up the TCI.
Land Costs - This is the purchase price of land/property. It will include any developer contributions such as a levy to finance essential infrastructure works such as road improvements.
Works - Main works contract costs, these include, soil stabilisation and decontamination, piling, road and sewer construction, major demolition works, as well as statutory agreements and associated charges e.g. road bond, connection charges.
On Costs – These will include legal fees, disbursements and expenses, stamp duty, bank/building Society or other valuation and associated administration fees, fees for building control and planning permission. Furniture provision including loose fittings and furnishings would also be included in this.
TCI are regularly reviewed by the Department and are subject to consultation with the Federation of Housing Associations. TCI rates for 2022/23 are currently under review.
Time Period
Total TCI (Average Development Cost per unit)
Land Total
% of TCI
Works Total
% of TCI
On Costs Total
% of TCI
Autumn 2021
£160,946
£24,376
15%
£119,486
74%
£17,084
11%
Spring 2021
£151,090
£20,329
13%
£114,498
76%
£16263
11%
Spring 2020
£148,339
£21,802
15%
£110,732
74%
£15805
11%
Spring 2019
£140,881
£22,054
15%
£103,936
74%
£14,891
11%
Autumn 2018
£129,980
£18,926
14%
£97,190
75%
£13,864
11%
Autumn 2017
£121,379
£15,032
12%
£93,368
77%
£12,979
11%