Architects expected to see fees fall by further 9% in 2009
The value of architects’ fees fell by 5% in 2008, according to a new report.
The report, published by market research firm MBD Commercial, found that fees had risen between 6% and 18% every year since 2004 – but that architects were on average being paid 5% less by the end of 2008.
It also predicted that architects’ fees would fall by a further 9% in 2009, and 3% in 2010 before starting to recover in 2011. The report said that overall, fees would not regain the value they had at the height of this year until after 2013.
Fees for private housing are expected to fall by 15% next year, and by 6% in 2010.
There was a ray of sunlight in the report though, as it predicted fees in the public housing sector would rise a total of 38% in the five years to 2013.
The report concluded that the public housing, health and education sectors had the strongest growth potential over the next five years.