Tender prices continue to fall

Citation

(2009), "Tender prices continue to fall", Structural Survey, Vol. 27 No. 3. https://doi.org/10.1108/ss.2009.11027cab.005

Tender prices continue to fall

Article Type: Newsbriefs From: Structural Survey, Volume 27, Issue 3

Keywords: Construction, Prices, Recession

Gardiner and Theobald’s tender price indicator for the fourth quarter 2008 forecast that tender price inflation will continue to fall, to −3.5 per cent in 2009 and to −3 per cent in 2010 in the UK. This is the first negative inflation in tender prices since 1992 due to continued discounting of tenders to secure work in 2009 and 2010, reflective of the continuing lack of demand and uncertain economic climate. Overall, output will continue to decline with no signs of significant recovery until 2012.