Market forecast: Upward but uneven

New work

As building costs soar, yearly tender price increases are close to double figures – but that should slow next year. And while construction output is still rising overall, there is greater fragmentation

01 / Summary

Tender price index

Tender prices increased by almost 10% over the 12 months to Q3 2022. Price inflation trends will continue to plot an upward course into 2023, as supply-side problems and construction output momentum combine.

Building cost index ▲

A composite measure of building input costs increased by just over 9% over the year to September. This is still an elevated level of input cost inflation, although rising at a slower rate.

Consumer prices index

The consumer prices index rose by 10.1% in the 12 months to September 2022. UK inflation has only exceeded 10% on a yearly change basis three times in the last 70 years.

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