Construction tender prices are continuing to rise, but at a reasonably moderate rate, according to the Society of Chartered Surveyors (SCS), which has published its latest tender price index.
This index for the first half of 2005 shows, on average, a 2.3 per cent increase since the second half of 2004 and a 5.4 per cent increase in the 12 months from the first half of 2004.
"The average tender prices are now at their highest point since SCS records began in 1998", said Derry Scully, president of the Society of Chartered Surveyors.
The outlook for the remainder of 2005 is that tender prices will increase further at a rate slightly ahead of general inflation levels, according to the SCS. "The recent increases reflect the ongoing buoyancy in the construction industry and the effects of the major increases in steel and fuel prices", states Scully.
The index is based on actual tender returns for non-residential projects during the period for which it is undertaken.
It is also based on predominately new build projects with values ranging from € 0.5m to € 10m and covers all regions of Ireland.
The index is a measure of average construction tender price increases across differing project types and locations.
SCS quantity surveying practices throughout the country returned figures for the first half of the year 2005, with the data then compiled and published by the society.
