London –“Contractors have the power”
Contractors are now becoming more selective, assessing project attractiveness and risks. According to AECOM’s 2014 London Contractors Survey the shift in the balance of power comes with rising workloads and growing skills shortages. AECOM forecasts that 2014 will end with a 5-6% tender price inflation in the London market and is predicting inflation of 5.1% in 2015 and 5.3% in 2016. A shortage of labour, skilled professionals such as brick layers and joiners is the main reasoning behind the forecasted increase.
Here at Derek Gough Associates we realise the importance to use the most current and accurate cost data to cover main contractor’s risk. Contact a member of our team today to learn more on how we can assist in costing any size construction project.
View the complete AECOM 2014 London Contractors Survey.