Tender prices in the third quarter of 2000 rose faster than the retail prices index, reflecting the continued strong demand for construction services, according to the Building Cost Information Service.
The service reported a 6.4% increase in prices, compared with an RPI inflation rate of 2.8%. Materials costs rose 2.4% and nationally agreed wage rates rose 6.1%.
New work is expected to fall slightly in 2001 but recover to its long-term annual growth rate in 2002.
