Building costs forecast to rise 17% in next five years

According to the latest construction forecast data from the Building Cost Information Service (BCIS), building costs will increase by 17 per cent over the next five years to 1Q 2030, while tender prices will rise by 15 per cent over the same period.
New work output is expected to grow by 19 per cent over the forecast period.
Dr David Crosthwaite, Chief Economist at BCIS, said: “Sentiment in construction has changed significantly since the start of the year and, with economic growth stagnat