BCIS publishes five-year forecast for construction sector

Latest projections from the Building Cost Information Service (BCIS) forecast construction costs to rise just over 3% in the year to 3Q 2024, while tender prices are expected to increase by just over 2% in the same period.
In its five-year forecast published for 3Q 2023, BCIS outlines its expectations for the industry, set against a backdrop of tightening market conditions.
From 3Q 2024, the BCIS says costs are set to rise between 2% and 3% per annum until 2028. This is slightly less than t