Market forecast: Inflation bites


As output rebounds, building costs are soaring at double-digit rates thanks to a variety of inflationary pressures, sending tender prices upwards

01 / Summary

Tender price index

Tender prices increased by 7% over the 12 months to Q4 2021. Price inflation will continue throughout 2022 as acute input cost pressures remain across the construction sector.

Building cost index ▲

A composite measure of building input costs increased by approximately 10% over the year to Q4 2021. Global and domestic supply chain issues, along with improved demand, have contributed to acute inflation trends.

Consumer prices index

The consumer prices index rose by 5.4% in the 12 months to December 2021, the highest rate of change in 30 years. Consumer price inflation is expected to increase further still over the first half of 2022.

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