Tender prices for social housing in Scotland fell 4.4% in 1Q2023, compared with 4Q2022 but were still well above the price levels in the same quarter a year earlier (up 3.4%, compared with 1Q2022).
This reflects a fall in demand – housing construction output in Scotland fell 14% in 1Q2023 and social sector housing starts in Scotland were down 40% in 4Q2022 (the latest period for which figures were available). Housing output in Great Britain, as a whole, fell 4.3% in 1Q2023 to much the same level as it was in 1Q2022.
The Scottish Social Housing Tender Price index is based on comparing the prices for the construction of houses in current schemes with our cost models of different types of dwellings, adjusted for specification and design differences.
The index is prepared by BCIS for Scottish Government and More Homes Division. Full details are available on the Scottish Government’s website.
BCIS provides bespoke construction prices, cost indices and forecasts for a wide range of public and private sector clients.
To keep up to date with the latest industry news and insights from BCIS register for our newsletter here.