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Building costs to continue rising but at slower pace, surveyors predict

Building costs will continue rising this year but the pace of inflation should slow in coming months, surveyors say.

The prices that builders bid for commercial contracts rose 22 per cent over the past 18 months as the Government eased Covid curbs, demand for materials grew and energy costs soared, according to the Society of Chartered Surveyors Ireland.

Its members believe builders face further inflation in the second half of this year “but at a lesser rate” than over the past 18 months, says Kevin Brady, the organisation’s chairman, in a new report.

The group’s latest Tender Price Index calculates that building projects costs rose 7.5 per cent in the first half of this year, and 14 per cent over the 12 months to the end of June.

Read the full details in the Irish Times

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