A slowing of the rate of inflation has been reported in the latest quarterly Construction Tender Price Forecast published by RLB.
The report provides market commentary and insight into expected tender price uplifts for UK regions from 2023 to 2025.
The latest update shows the UK construction industry is markedly busy despite economic uncertainty and general resource-shortage challenges.
Forecasts suggest a flattening of the input price increases and a moderation of levels of tender price uplift. The report notes with inflation, interest rate increases and continued supply chain issues, emphasis is being placed on procurement models and advice featuring methods of approach which deal with the additional risks which now affect the market.
Mike Righton, RLB’s managing partner for the Thames Valley region, said: “There is a broad mixture of factors currently influencing our view of the market but, ultimately, the combination of these issues indicates a softening in construction tender price inflation, following a period of sustained increases.
“Therefore, in our latest quarterly update, we have downgraded our forecasts for the period 2023 to 2025.’’
The report can be downloaded here.
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