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  1. #1
    Join Date
    Jul 2003
    Kapiti in New Zealand

    Default Construction costs to rise by a third

    Hi all,

    More News

    Construction prices are set to rise by almost a third over the next five years as demand increases and the rising cost of raw materials hits home, claims a Building Cost Information Service (BCIS) report.

    Tender prices for construction projects could soar by 32%, while the overall rate of inflation is expected to be just 13%, say BCIS.

    The hike would be good news for the industry but there is concern that such a steep rise could affect upcoming projects, such as the development of east London for the 2012 Olympics.

    The BCIS said it was too early to gauge what effect of rising prices would have.
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