News from the Residential Property Investor, the bi-monthly magazine for RLA members other artilces from the October / November 04 issue RPI news archive

Repair costs are rising faster than inflation - October / November 2004

House repair and maintenance costs have risen by almost 11 per cent in the last year, the Building Cost Information Centre has reported. During the same period the Retail Price Index has gone up by only 2.8 per cent.

'Apart from a brief period in 1998 when these figures were first published on a regular basis, the Private housing repair and maintenance index has consistently risen faster than general inflation', according to BCIS technical consultant Peter Dyne.

This is a reflection of a shortage of skilled tradesmen, he suggested. 'Anyone who has tried to find a carpenter or plumber to do a job for them at home will testify to the fact that there is a shortage of skilled tradesmen'.

With fewer people undertaking their own repairs and maintenance and rising house prices 'leading to a perception of greater personal wealth, people are more willing to pay a contractor to do the work for them', said Dyne.

The cost estimate covers maintenance costs in both the public and private sectors and tracks trends in three maintenance categories: decoration, fabric maintenance and services maintenance. Other data such as materials and cleaning costs, energy prices and construction industry wages information are also included.

Meanwhile a new BCIS housing repair cost guide gives independent information on how much typical defects cost to remedy.
 

other artilces from the October / November 2004 issue

• Speaking on behalf of landlords
• Wales for high returns, Scotland for potential
• Irish landlords must register
• In brief
• House prices down, annual rise continues
• Sentence too lenient
• Repair costs are rising faster than inflation
• Cambridge flats most costly
• Devil is in the detail
• A woman's touch