The Building Cost Information Service (BCIS) is the leading provider of cost and carbon data to the UK built environment. Over 4,000 subscribing consultants, clients and contractors use BCIS products to control costs, manage budgets, mitigate risk and improve project performance.
Published: 02/05/2023
The annual review of the BCIS Guide to estimating for small works data set shows that the cost for small building works increased by 13% on average in the year to 1Q2023. Pressure on labour costs and increases in materials costs contributed to the rises.
Resource cost increases for contractors working on domestic extensions, loft conversions and the like have resulted in rates rising between 12% and 13.5% respectively, for those works over the past year.
The latest edition of the BCIS Guide to estimating for small works has been updated to account for all changes to resource costs and wage rates up to January 2023. The guide includes a range of additional rates in the external works section.
The example graphic below highlights the price change from 1Q2022 to 1Q2023, to show the significant growth in small building construction costs.
Figure 1: Source - BCIS
