Our third self-build show in Dublin left us wondering if the boom was back with a bang! Suppliers at the self build show wowed customers with their products and then scared the living daylights out of them with their prices. Most are now wondering if they can even afford to build at all.
Firstly, architects in the Dublin area are charging absolutely stupid money to draw plans. There is no justification for their rates. For example, one client told me what they paid for an architect and let’s just say, it was a whopping 677.78% dearer than Fermanagh rates. The mind boggles!
As mentioned in one of our previous blogs, material prices are on the increase this year alongside the labourers increased rates. The ones that really do think the boom is back. Even though they are not a peak level like 2006/2007 era, it is getting scarily close to it.
Those living in rented accommodation have it even harder trying to save for deposits etc. Dublin rents are at an all-time high with no sign of them being capped. Rouge landlords are forcing students into bedsits with poor facilities. In the case of one landlord, he offered a cupboard under his stairs for €610 a month. Yes, you heard that right!
As a result of the hike in prices, most people we spoke to at the show are now in a blind panic to get their home built before anymore unforeseen increases. However, there is a huge shortage of tradesmen all over Ireland so there is unfortunately a bit of a wait.
Cities like Dublin and Cork attract tradesmen with their population and high demand. Employers offer decent wages and subsidise their travel and accommodation. The rest of rural Ireland lags behind as it can’t compete with the bigger construction companies.
Notability, a lot of businesses and trades also left the construction industry in the economy bust of 08/09. It has now come full circle and the shortages are plain to see. Students don’t want to learn a trade anymore. The harsh reality is that they don’t think the wages are good enough.
Therefore, for any self builders planning a project in the next year, you may just have a bit of a wait on your hands!