, ,

Construction Tender Prices increase in 2014

The SCSI Construction Tender Price Index, which is the only independent assessment of construction tender prices in Ireland shows that prices increased by 2.9% in the second half of 2014. The annual increase for 2014 was 5.0%.

The increase in construction tender prices is most apparent in the Greater Dublin area but is likely to spread out from the capital during this year. As construction activity picks up it is becoming apparent that there may be a shortage of certain specialist sub-contractors in the near future.

Tender prices peaked in the first half of 2007 and fell rapidly for the following four years before levelling off in the second half of 2010/first half 2011. At that point prices were down 33% from peak and the Society warned that the trend of below cost tendering was simply not sustainable. Over the last three years prices have risen at a steady pace but are still at 1999 levels.