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Published: 15/06/2022
According to the forecast tender prices will rise by 22% over the next five years (1st quarter 2022 to 1st quarter 2027) with pressure on resource availability.
Civil engineering demand is not expected to grow significantly over the period, but it will remain at historically high levels.
Costs will be affected by both materials and labour availability over the next two years. Problems with materials availability are expected to resolve themselves later in the forecast period, but labour supply issues will persist.
Civil engineering materials prices rose by 8% in 1st quarter 2022 compared with the previous quarter, and by 24% compared with a year earlier. The main risks to materials prices will be difficulty in obtaining materials, energy prices, tariffs on imports and sterling exchange rate.
Costs will rise by 18% over the forecast period (1st quarter 2022 to 1st quarter 2027).
Source: ONS, BCIS
