Building repair cost review – July 2022 to October 2022

November 8, 2022

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We’ve previously advised our inflation forecast for 2022 was 10%. We’ve continued to monitor cost increases and we’ve now recorded these at 10.82% YTD. We expect, however, there may be an element of fall back in some costs in Q4 as certain material costs drop. Inflationary pressures previously reported on, i.e. the effects of Brexit, global shipping difficulties, the pandemic, the war in Ukraine and rising energy costs continue to be relevant. The political and economic turmoil of Q3 has impacted construction and the loss of consumer confidence is now also pointing to a possible recession in the industry.

Read the full commentary paper here.

Tags: builder's risk, builders, building, Building consulting, construction, contractors, inflation, market trends, materials, Property, Restoring property