Developers reviewing projects as cost pressures bite, report says

By Tom Lowe2022-02-08T07:00:00

Glenigan review finds project start values have fallen for the fourth month in a row

Developers may be scaling back or cancelling projects because of mounting cost pressures, contractors have been warned as a new report showed that January saw the lowest value of project starts since the start of the first covid-19 lockdown.

Rhys Gadsby, senior economist at information provider Glenigan, said that ongoing issues with material prices and a deteriorating economic outlook may be prompting clients to look again at the viability of their projects.

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