British Land sees construction cost inflation easing

British Land is predicting construction cost inflation will ease to a maximum 4-5% next year as subcontractor rate rises start to soften as some projects are delayed or cancelled.
The developer said inflation is still running at 8-10% this year.
But it added: “There is a possibility that inflation next year is lower than our forecast with early signs construction capacity is increasing as development projects are deferred or cancelled and tender prices for demolition works are stabilising.