Quantity surveyors report details fall in construction costs in 1996
According to Davis Langdon & Everest, building tender prices fell in the first quarter of 1996. Contractors fought over a declining volume of new orders.
The report finds :
- Building prices fell 0.7% from the fourth quarter of 1995.
- Tender prices were 4% higher than a year ago.
- Contractors are still reporting very tight market conditions.
- Construction recovery has been almost exclusively based on private sector industrial and commercial work.
- Housing and public non-housing work continue to provide declining markets.
- PFI funded projects are taking much longer to get going than the Government forecast.
- Matching private sector funding is not being secured quickly enough to sustain many Lottery funded projects.
- With construction output in 1996 expected to be lower than last year, building prices are not expected to rise by more than 3.5%.
- The industrys workload is expected to increase in 1997 and push prices up by 5%-8% in the year to the first quarter 1998.
EGi News 15/05/96
According to Davis Langdon & Everest, building tender prices fell in the first quarter of 1996. Contractors fought over a declining volume of new orders.
The report finds :
Building prices fell 0.7% from the fourth quarter of 1995.
Tender prices were 4% higher than a year ago.
Contractors are still reporting very tight market conditions.
Construction recovery has been almost exclusively based on private sector industrial and commercial work.
Housing and public non-housing work continue to provide declining markets.
PFI funded projects are taking much longer to get going than the Government forecast.
Matching private sector funding is not being secured quickly enough to sustain many Lottery funded projects.
With construction output in 1996 expected to be lower than last year, building prices are not expected to rise by more than 3.5%.
The industrys workload is expected to increase in 1997 and push prices up by 5%-8% in the year to the first quarter 1998.
EGi News 15/05/96
