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

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.