Tender Price Indicator
Whilst timescales for Brexit become clear, details of the new market for 2019 and its impact on construction remain uncertain.
Our forecast for 2017 indicates an increase in tender pricing as the cost of the weak pound is passed on in headline pricing, but with a reduction in the volume of new orders in the second and third quarters. Moving into 2018, we forecast a slowing of demand as uncertainty stalls new orders and remaining flat in 2019.
Headline rates for 2017 remain unchanged this quarter at 2.50% for UK average and 2% in London. 2018 and 2019 are flat at 1% for London with the UK average rates reducing to 1.5%.