11% decline in construction tender prices in a year, but rate is slowing

CONSTRUCTION tender prices have fallen by 11% over the last 12months as the sector continues to decline, new figures from the Society of Chartered Surveyors show.

The rate of decline is starting to slow down.

The latest index shows prices decreased 3.7% over the first six months of 2010, but that is almost half the fall in the second half of last year.