Calculating the cost of storm damage

Calculating the cost of storm damage

14 March 2008
 

 

Sum of a storm - surveying the damage
  
After this week's storm, those who suffered damage to their property will be turning their heads to repairs. But where to start?

The cost of the storm’s assault on your home can be calculated using a guide published by The Building Cost Information Service (BCIS), part of the Royal Institution of Chartered Surveyors (RICS).

The Property Makeover Price Guide* is specifically designed to help homeowners, clearly setting out what they should expect to pay for over 1,300 different types of work** to their home according to the location of their property. It covers everything from fixing window panes, replacing chimney pots to rebuilding walls.

Andrew Thompson, International Development Director of BCIS says:

“Whether your property has suffered light, medium or severe damage getting an accurate estimate of the repair cost can help put your mind at ease, as well as help you to negotiate with your insurer or contractor about the work.”

“Building costs in Greater London are about 14 percent above the national average.  Prices also vary across the capital - you tend to find that prices rise the further into town you go so building works in the London postal districts are about eight percent higher than in outer London. In terms of repairing a roof, you might be only looking at adding £100 to your bill, but for more costly repairs location is a bigger factor.”

Some examples for what storm damage costs (national average)***:

  • Replace six tiles/slates in one location £350
  • Rebuild 5m long freestanding brick wall (2m high, one brick thick) £5,440
  • Replace a framed, ledged and braced matchboard gate, including ironmongery £560
  • Cut down and remove large trees £1,050 (per tree)
  • Replace 20m of chestnut pale fencing (1000mm high, with two wires) £2,050
  • Rebuild side wall, including insulation for terraced house £12,590
  • Replace single width driveway, 10m long (75mm thick clay brick pavers) £3,160.

Ends

About RICS
RICS (Royal Institution of Chartered Surveyors) is the mark of property professionalism worldwide. It covers all aspects of property, construction and associated environmental issues. RICS has 140,000 members globally and represents, regulates and promotes the work of property professionals throughout 146 countries. RICS is governed by a Royal Charter approved by Parliament which requires it to act in the public interest.  It is also a professional regulatory body approved by Government (HM Treasury).

* The Property Makeover Price Guide: Organising and Budgeting for Home Improvers and Developers
Price £17.99, published by BCIS October 2006.   To order www.bcis.co.uk/propertymakeoverguide/
Email: sales@bcis.co.uk Tel: 0870 333 1600 (select option 2 for BCIS sales)

**The costs featured in the guide have been calculated from estimating data collected by BCIS over the course of 40 years, which has until now only been available to the construction industry. The data has been cross-checked by an extensive survey of rates from small contractors.  Location adjustor figures and a UK map showing the differentials are also available on request.

***Cost tables for storm damage accompany this release. The costs include labour, material, contractors overheads and profit where necessary, call out charges, scaffolding and plant to carry out the work and VAT.

For further information contact:

Shella Ali
Press Officer
RICS Communications
T: +44 (0)20 7334 3703
F: +44 (0)20 7695 3722
E: sali@rics.org

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