Tender prices fairly steady over next five years – BCIS five year forecast of tender prices to first quarter 2005

Citation

(2001), "Tender prices fairly steady over next five years – BCIS five year forecast of tender prices to first quarter 2005", Facilities, Vol. 19 No. 1/2. https://doi.org/10.1108/f.2001.06919aab.002

Tender prices fairly steady over next five years – BCIS five year forecast of tender prices to first quarter 2005

Tender prices fairly steady over next five years – BCIS five year forecast of tender prices to first quarter 2005

Keywords: Building industry, Costs

Building tender price increases are expected to be at or above the level of inflation over the next five years, according to a report published today by the Building Cost Information Service (BCIS).

Technical editor Peter Rumble commented that:

Tender prices are expected to rise by 17 per cent over the next five years compared with a predicted increase in general inflation of 12 per cent over the same period. The tender price increases reflect pressures from rises in input costs, and growing demand for new work.

The BCIS forecast is for tender prices to rise at around the level of inflation over the next two years, rising ahead of inflation over the following three years.

BCIS anticipate a modest increase in new work output in 2000 before a slight fall in 2001 as a result of falling orders in 1999 and early 2000. A return to modest increases in new work output is envisaged over the following three years aided by public funds identified in the Government's second Comprehensive Spending Review.

The BCIS Five Year Forecast is published as part of the BCIS Subscription Service or is available separately, priced £25.00, from BCIS, 12 Great George Street, Parliament Square, London SWIP 3AD.