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Confusing Drop In House Rebuilding Cost Index

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This is one of a number of figures i keep an eye on. It essentially shows the sum assured on home insurance policies should be revised in line with the costs of rebuilding properties.


The last months figure shows the index figure dropping to -1.7% from 2.4% the previous month, which is the first drop into negative territory since i've been watching it. Can anyone in the building trade confirm if costs have dropped? What else could explain it.

Just has me a bit confuzzled.

Edited by rickybruce

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I have no knowledge of how this data is compiled but I would venture the suggestion that there is a surplus of building labour supply at present which must be depressing labour costs of build. Perhaps its that?

Thinking about it that must also apply to building supplies and associated trades, architects, cost consultants etc....

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The falls maybe due to labour costs, although not working myself, hearing the people who are, are taking upto 40% cuts in wages. Also im hearing that house builders are making lower cuts, its just the sub contract baron's who get the work from the house builders are taking advantage of the situation and passing bigger cuts onto the workers and pocketing the difference.

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