Tender Price Indicators

Q4 2023
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Q4 2023

The UK construction industry continues to grapple with uncertain demand, high construction and financing costs, as well as skilled labour shortages - a potential storm that is increasing financial pressure.

Gavin Murgatroyd

By Gavin Murgatroyd

Q3 2023
2307 Q3 TPI Market Int Banner

Q3 2023

With an economy that continues to flatline amid a stubborn inflationary backdrop, the bigger picture is one of a recovery that is likely to remain stuck in low gear as it battles a range of headwinds to growth.

Gavin Murgatroyd

By Gavin Murgatroyd

  • Q2 2023
    2304 Q2 TPI Market Int Banner
    Q2 2023

    Prospects for the UK economy have improved in recent months, but the possibility of an economic slowdown in 2023 still looms.

    By Gavin Murgatroyd

  • Q1 2023
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    Q1 2023

    The construction sector bucked the broader economic trend in the latter half of 2022, expanding when other core sectors of the economy contracted. As the stand out sector, strong output growth in 2022 provided the industry with a buffer of workload and laid a solid foundation for the industry to enter an economic slowdown.

    By Gavin Murgatroyd

  • Q4 2022
    22010 Q4 TPI Web Banner
    Q4 2022

    Forecasting is an inherently difficult task, even at the best of times, but a constantly shifting economic landscape and enhanced market volatility in recent weeks has made predicting where the market will be next week, let alone in the years to come, a complex and problematic undertaking.

    By Gavin Murgatroyd

  • Q3 2022
    2207 Q3 TPI Web Banner
    Q3 2022

    Elevated inflation across the globe has impacted every sector and UK construction is no exception. The post-pandemic rebound that was building prior to the conflict has come to a halt following broad-based inflationary pressures and the risk of stagflation or recession.

    By Gavin Murgatroyd

  • Q2 2022
    Forest with sunlight through the trees
    Q2 2022

    The Russia-Ukraine conflict and the ensuing roll-out of sanctions and retaliatory measures have ushered in a new era of economic difficulties and inflation. The swings in commodity prices have been dramatic and the record rises in fuel and energy prices alarming. War brings significant volatility, and this is set to be a feature of the economic outlook for the foreseeable future.

    By Gavin Murgatroyd

  • Q1 2022
    Female scientist looking down microscope in a laboratory
    Q1 2022

    Inflation is here, but for how long? Analysis tells us from spring, inflation will lower but leave us with much higher price levels.

    By Gavin Murgatroyd

  • Q4 2021
    2110 4 Q Tpi Web Banner
    Q4 2021

    From toilet rolls to timber, supply chain issues have evolved and expanded over the last year-and-a-half.

    By Gavin Murgatroyd

  • Q3 2021
    3Q TPI
    Q3 2021

    ‘Transitory inflation’. This is the term currently being bandied about by economists. But transitory or not, inflation is certainly here.

    By Gavin Murgatroyd

  • Q2 2021
    Looking up at a modern office building with trees
    Q2 2021

    COVID-19 has made it difficult to quantify the impact of Brexit on trade but a successful vaccination roll out fosters a faster economic revival.

    By Gavin Murgatroyd

  • Q1 2021
    Towers in city of London with union jack flag in foreground
    Q1 2021

    A third national COVID-19 lockdown and a historic trade deal with the EU. Will these impact the construction industry for the good or the bad?

    By Gavin Murgatroyd

  • Q4 2020
    Woman with suitcase standing at empty check-in desks in airport
    Q4 2020

    With the initial shock of COVID-19 now over, there have been some promising signs that an economic recovery is on the horizon.

    By Gavin Murgatroyd

  • Q3 2020
    Interior with hydroponic plants
    Q3 2020

    Given the uncertainty at the time, our previous TPI forecast used a scenario-based approach, outlining how different market conditions might weigh in on tendering conditions. Whilst there are still many unknowns with regards to the type of recovery that will materialise, it has become clear that substantial deflationary pressures will affect input costs and tender pricing into 2021.

    By Gavin Murgatroyd

  • Q2 2020
    Rear view of construction worker holding a hard hat
    Q2 2020

    Hopes of entering into a period of relative calm and greater market certainty have firmly been put on ice as we find ourselves facing the prospect of a ‘new normal’ in the wake of the coronavirus (COVID-19) pandemic.

    By Gavin Murgatroyd

  • Q4 2019
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    Q4 2019

    As we enter the second phase of Brexit, a few unknowns still hang in the balance. Will the UK secure the ambitious free trade agreement? And will the upcoming budget spark an 'infrastructure revolution'?

    By Gavin Murgatroyd

  • Q3 2019
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    Q3 2019

    After a relatively strong start to the year, UK construction output has been on a general downward trajectory since February.

    By Gavin Murgatroyd

  • Q2 2019
    Tpi Q2 2019
    Q2 2019

    UK construction output is growing but at a relatively flat rate.

    By Gavin Murgatroyd

  • Q1 2019
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    Q1 2019

    The current economic and political climate is proving to be a breeding-ground for indecisiveness and this will inevitably have an impact on new business confidence and order book volumes.

    By Gavin Murgatroyd

  • Q4 2018
    Good Time To Invest In Build To Rent
    Q4 2018

    Construction output surprised many towards the end of 2018. In the year to November 2018 construction output (All Work) in the UK grew by 3.4% despite unparalleled levels of political uncertainty.

    By Gavin Murgatroyd

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