Construction cost quotes rise by 3%

The amount of money being quoted by building firms for large scale construction jobs increased by over 3% in 2013, and is expected to continue to grow moderately during this year.

Last year’s increase was driven by a marked surge in quoted costs in the second half, with a 2.2% rise following on from one of just 0.9% in the first six months. The figures, published by the Society of Chartered Surveyors of Ireland (SCSI) and relevant to any building project worth over €500,000 in value, show that construction tender prices, here, are nearly 30% lower than their 2007 peak.

“They are still some way below prices back in 2000, which means that planned Government expenditure on construction and infrastructure projects remain at very competitive prices,” SCSI president Micheal O’Connor also noted, adding that projects are now being priced at viable levels due to an increasing awareness — among contractors and sub-contractors — of the true cost of carrying out work.