Market forecast: Why tender prices are likely to continue rising despite cost inflation easing


The ongoing economic backdrop of elevated interest rates is increasingly impacting construction

01 / Summary

Tender price index

Tender prices increased by 9.6% in the 12 months to Q2 2023. Price inflation trends are holding up, as output volumes remain sound and input costs pressure the commercial equation.

Building cost index ▲

A composite measure of building input costs is expected to increase by 2.3% in the year to Q2 2023. Although this is still elevated by historical measures, slower trends are increasingly evident across more materials and components.

Consumer prices index

The consumer prices index rose by 8.7% in the 12 months to May 2023. This is still a long way from the target rate of 2%.

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