Market forecast: On the up and up

By Michael Hubbard2021-11-10T05:00:00

Acute inflation in the sector is pushing up tender prices, and with no end in sight to the pressures, this could continue well beyond 2022

01 / Summary

Tender price index ▲

Tender prices increased by 5% over the 12 months to Q3 2021. Price inflation is set to continue over the remainder of 2021 as acute input cost pressures remain across the construction sector.

Building cost index ▲

A composite measure of building input costs increased by approximately 11% over the year at Q3 2021. Global and domestic issues and problems combined to push up input cost inflation to its highest yearly rate of change since 1981.

Consumer prices index ▲

The consumer prices index maintained its course at broadly 3% in the 12 months to September 2021. Consumer price inflation is expected to increase further in 2021.

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