Construction tender prices in London and the South East will stay flat this year and next year, consulting firm Alinea has forecast.
It said it expected 2% tender price inflation in 2019, followed by 2% in 2020, rising to 2.75% in 2021.
Alinea said the London and the South East remained in a “holding pattern” until there was more clarity over what happens regarding Brexit.
“Our property and construction industries are desperate for clarity and direction and the next four months will determine the extent to which they receive this,” the cost consultancy said in its July 2019 market report.
It added: “The profound uncertainty of the moment is presenting a window in which contractors are setting their sights on certain projects with some trades in particular aiming to be as competitive as possible. This will either be extended or replaced by a ‘Brexit bounce’, depending on what happens politically in the second half of 2019.”
For the full report, click here.
