Is the custom build marketplace going to play any genuine part in the Governments effort to build 1.5 million new homes by 2022? The answer seems to be yes if the continuous annual growth of the marketplace is considered.
New research has found the custom and self-build market has experienced year-on-year growth of 6.25%. Homebuilding and Renovating published the The Self and Custom Market Report last month which forecast the market to reach 16,500 home completions by 2020, if the market continues at its current pace.
The Report, which was supported by NaCSBA includes comprehensive analysis of the current custom and self-build sector and will act as a useful tool for policy makers at local and national levels. Read more ›
Republic of Ireland (ROI) witnessed a 30 per cent growth in self-builds between 2015 and 2016 while Northern Ireland (NI) statistics show a 20 per cent growth in new dwelling starts between Q1 2016 and Q1 2017.
The number of commencement notices issued in 2016 grew 30 per cent on average in ROI with Co Cork leading the way. Self-built house building commencement figures for the first two months of 2017 show further growth: roughly 50 per cent year on year for January 40 per cent year on year for February and 20 per cent year on year for March.
In NI, new dwelling starts statistics from District Council Building Control mix all private new builds, so the figures include developer-led housing. There were 20 per cent more new starts in Q1 2017 than during the same period last year.
Click on your region below to find out who’s building where. Read more ›
Over the past 12 months, custom build has been a buzzword within our industry. However, not much has happened over the last year. This was down to the fact that there were very few companies within the wider property sector that knew much about the market’s potential.
However, the recent Housing White Paper, which has effectively given government endorsement to custom build, has had an enormous effect and brought this route to homeownership to the forefront of people’s minds in the industry.
Since the Paper was published we, BuildStore, have had renewed interest from lenders who are attracted to custom build due to the assistance that professional developers can offer to purchasers.
We are in the process of speaking to a variety of lenders about what custom build entails, and the advantages of entering the market. However, the question always asked by lenders is: “What is the difference between self-build and custom build?”
Each month we seem to have a more firmed up view that custom build is all about developer involvement, with developers providing the opportunities. Read more ›
The Society of Chartered Surveyors Ireland released their PwC Construction Survey Report 2017 this week, showing that their Tender Price Index increased 6 per cent over the course of 2016.
“If price inflation continues to grow at the current level, it is anticipated that pricing levels will return to the levels last seen in 2006 and 2007 in the next few years,” commented the authors.
The clear majority of respondents (90 per cent) expected an uptake in residential construction activity in 2017.
The good news for self-builders is that despite the increase in tender costs, the cost of building has only increased marginally over the same period. Read more ›
The moment you become a landowner, you’re liable for what happens on your plot. Self-Build Zone’s Paul Kempton explains how to protect your new property.
Once you’ve completed the conveyancing and bought your plot of land, no matter whether you’re ready to build now or at some stage in the future, you become responsible for the land. Technically, this means you’ve assumed liability for everything on it. The ‘it will never happen to me approach’ won’t help you when problems occur, so it’s vital to ensure you’re protected from day one.
Is my self-build plot covered?
If you happen to live next door to your proposed building site, don’t assume that your current household insurance will cover you. If the plot is registered separately then it won’t be part of this policy. You therefore need to make sure that you genuinely have adequate insurance cover against any claims that might be brought against you. Read more ›