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News & opinion

14 OCT 2019

New BCIS quarterly review of building prices

The BCIS quarterly review of building prices provides detailed average building prices, which are categorised by building function. The figures are based on actual projects that have been analysed and normalised for a number of factors, including location.

Location factors are included to adjust average prices to a particular location, and tender prices and building costs indices enable the prices to be updated to the proposed tender date. The prices are a general guide to the level of building prices and professional interpretation is always necessary.

The October edition of the Quarterly review has been published in a brand-new format. The look has been updated and modernised with easier-to-read fonts, figures and tables. This has been done as part of a drive towards accessibility in RICS publications, ensuring that documents like the Quarterly review are useful and inclusive.

As part of the update, the Quarterly review has also been restructured, with some tables removed and others streamlined. This has been done to place greater focus on the need-to-know information in the Quarterly review, such as the All-in Tender Price Index and the General Building Cost Index.

New Quarterly Review Infographic RICS
This infographic outlines the regional and county factors in building costs - which are expected to rise by 20% in the next 5 years

The Quarterly review also includes:

• BCIS' scenario assumptions for Brexit

• Forecasts for the next five years

• Average building prices

• A discussion of factors that may affect pricing and

• Worked examples of using BCIS data

The price information available to BCIS subscribers through BCIS Online is more detailed than the information provided in the Quarterly review. An electronic version of the Quarterly review is available in the BCIS Review Online service.