Construction prices rose over the last year by 5%, according to AECOM's tender price index, with construction price inflation continuing to run above the long-run average.
The main drivers are rising input costs. Producer price indices have moved up at a clip in recent quarters, with sharp increases in prices for materials and fuels consumed by UK manufacturers. Demand- and supply-side factors make the probability of short-term price falls very slim.
SPON'S ARCHITECTS' AND BUILDERS' PRICE BOOK 2018, compiled by AECOM, still provides the most accurate, detailed and professionally relevant construction price information for the UK. Its unique Tender Index, updated through the year, gives an ongoing reality check and allows you to adjust for changing market conditions. Although it suits a wide range of project sizes, this is the only price book which sets out a detailed cost base for contracts exceeding GBP4,000,000 in value.
Use the access code inside the front cover of the book to get set up with a VitalSource (R) ebook of this 2018 edition. This versatile and powerful online data viewing package is available for use until the end of December 2018.
Major changes have been made to this 143rd edition:
New Cost Models for a retail distribution unit, a palliative care unit, and a cinema
As well as an overhaul of prices, several new items have been added, including:
An expanded range of beam & block flooring
Rainwater harvesting - with a precast concrete tank
A precast concrete flow attenuation system
Precast concrete communication boxes