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2022 Burn out ?



What does 2023 hold in store ?

  • New ways of working have meant that during lock down some organisations made record profits by using modern technologies and reducing fixed costs.

  • Inflation is set to continue and this will eventually be reflected in tender prices which are forecast to rise between 5-6% next year.

  • The BCIS reports a 22% increase in material prices year on year from Jan 21 to Jan 22, although the rate of increase does appear to be slowing compared with the 20% year on year increases seen in mid-2021.

  • General inflation is expected to peak at 14% in 2023.

  • Construction wage settlements are expected to rise significantly.

  • Increases in energy costs have still to make an impact.

  • House prices expected to fall by 9% (ONS).

  • Construction costs are rising faster than prices.

  • Construction output as a proportion of GDP is still significant at 8%.

  • Sustainability; by in large, the construction industry still pays lip service to techniques such as life cycle costs and is still driven by bottom line capital costs.

  • Digital construction up take is still patchy and as with so many construction initiatives over the recent past will probably remain the domain of the top 3-5% of construction companies.

  • The RICS still fails to convince many members that it is about to enter a brave new world of greater transparency and inclusivity.

April 2023 sees the publication of the fifth edition of New

Aspects of Quantity Surveying Practice with a Foreword by

Martin Sudweeks, UK Managing Director of Turner & Townsend Cost Management. Included in the fifth edition are

chapters on;

Digital construction,

Ethics and ethical practice and

Sustainability


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