Monday 25 September 2017

Builders charging up to 10pc more for work than four years ago

Construction tender prices increase steadily

Construction tender prices on the rise
Construction tender prices on the rise
Sarah Stack

Sarah Stack

Builders are charging up to 10pc more for work than four years ago.

The latest construction tender price index by the Society of Chartered Surveyors Ireland (SCSI) showed tenders have risen by 2pc in the first six months of the year, and 4.4pc since last summer.

Micheal Mahon, vice chairman, said construction tender prices have continued to increase steadily and are now 10pc higher since they bottomed out in 2010. 

“This trend is likely to continue, and indeed it is accelerating slowly, as more confidence comes back into the market, bringing with it a modest increase in construction activity, particularly in the Greater Dublin area,” he said.

Mr Mahon said with several large projects such as Intel and the Corrib gas pipeline nearing completion large numbers of workers have come back into the market, particularly in the specialist mechanical and electrical trades.

“It is worth noting that despite these recent modest increases building prices remain very competitive and, at 26pc below their peak in 2007, they are still well below prices back in 2000,” he added.

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