Understanding construction costs is an important part of any property development project.
Average construction costs per square foot in the UK range from between £100/sqft to £330/sqft. Factors that affect construction cost per square foot includes the region of the country the project is in, the type of property (e.g. house or flat), and the standard of finish of the completed development.
Knowing the average construction costs for projects in your region can give you an advantage in modelling a project's potential profit, and in understanding and negotiating with contractors during the tender process.
PropertyData provides high-level construction cost data for five UK regions: London, South, Central, North, Scotland and Northern Ireland.
For each region you will see the overall cost per square foot/metre, as well as typical hourly wages for key labourer types and costs for commonly used site materials.
Other costs that PropertyData shows that vary by region include typical preliminaries percentage, commonly used contractor's margins, and crane hire costs.
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