Tendor price index Tender prices were flat in the second quarter and prices may now have bottomed out in London, if not elsewhere. Declining workload over the year ahead will make it difficult for contractors to raise prices nationally but London is likely to see prices rise for the first time in over three years. Building cost index Building costs have risen 3% over the past 12 months, almost entirely the result of materials prices as labour wage agreements have been frozen. A small increase has now been secured by building operatives and costs are forecast to rise by a similar amount over the next year.
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