BCIS data shows tender price index up 0.5%

Latest data from the Building Cost Information Service (BCIS) shows tender prices increased by an estimated average of 0.5 per cent between 1Q 2024 and 2Q 2024, which resulted in 2.3 per cent annual growth in the BCIS All-in Tender Price Index (TPI), down from a peak of 10.3 per cent observed in 2Q 2022.
BCIS recruited a panel of practising cost consultants from firms involved in multiple tenders in each quarter, to provide an early estimate of tender price movement in the latest quarter based o