Tender price forecast

Article Abstract:

A study of the UK tender forecast for the second qtr (Q2) of 1998, predicts the increase in the amount of new work leading to a wage rise of about 5-10% annually until 2000. The private finance initiative will fund the construction of 11 new hospitals by Jun 2000, with two more already being built. House building is slowing, with orders falling by 3%. The demand for new office buildings in Jan-May 1998 is 49% more than the same months in 1997. Work on the West Coast Main Line, worth 2.1 billion pounds sterling, is due commence in Sept 1998. Overall tender prices increased by 1% in Q2.

Industry Overview, Letting of contracts, Competitive bidding

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Tender price forecast

Article Abstract:

A study of the UK construction industry found the rise in workers wages, agreed by the Construction conference, caused building costs to increase by 5.9% over the yr to the third qtr of 1998. The rise in wages has also led to tender prices increasing. The year-on-year tender price increase was 9%. House building has fallen, with house registrations declining by 12% in Jul and Aug 1998 compared to the same period in 1997. Output for 1998 is expected to grow by 3%-3.3% but it is anticipated the slowdown in the UK economy will adversely effect the building industry.

Residential construction, Building trades, Building tradespeople, House construction

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Tender price forecast

Article Abstract:

The UK construction industry tender price average in London increased by 7% during 1999, with the rest of the UK seeing the tender price average increase by 5%. The increase is blamed on higher labour costs and a higher volume of work. The cost of building materials remained stable during 1999, although steel prices fell slightly. A dramatic 13.6% increase in house prices fueled the house building market and drove up employee costs.

Economic forecasting

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