House building cost inflation eases as build out rates fall

Annual house building cost inflation slowed slightly at the end of last year to 12.8%, as the latest quarter-on-quarter rise fell to 1.7%.
The annual rate of increase, as measured by the BCIS Private Housing Construction Cost Index, now looks to have peaked at 15.3% in the second quarter of 2022.
All respondents to the latest survey cited increased costs, with 44% reporting increased subcontractors’ costs, 28% reporting increases in costs of both materials and labour, and 24% citing increa