BCIS – The Latest Updates

BCIS – The latest information from RICS’ Building cost information service reports:

• A more positive outlook in terms of stability, after a decade of volatility and risking costs.
• Materials and labour costs are likely to level off, however …
• The New construction sector is slowing as the effects of ‘money tightening’ continues, notably a decline in new housing output as investors ‘pull the plug’.
• On the back of a slowdown in new housing, there is expected to be a release of labour.
• 2024/25 is therefore likely to be a difficult year for contractors.

Looking ahead:

A general fall in demand will lead to fewer opportunities and a labour supply on ‘standby’, resulting in a greater keenness to tender, by contractors.

Though output is expected to recover, albeit slowly, from 2025 onwards.

So, is now a good time to do building work?

So – is now a good time to carry out, do those building repairs, refurbishment and maintenance works that have been put off for a while? Ask our experts:

SMC Brownill Vickers Building Surveying Consultancy has expertise in accessing the conditions of property and preparing planned and preventative maintenance plans over 5,10 or even 25 years, so you can look ahead and take advantage of more favourable contractor pricing and availability. Use our contact form, or get in touch using enquiries@smcbrownillvickers.com or +44 (0)114 273 8377.