TENDER prices for social housing in Scotland started to fall in the second half of 2023, a new report by the Building Cost Information Service (BCIS) has found.
According to the Scottish Social Housing Tender Price Index (SSHTPI), tender prices fell 2% in Q3 2023 compared with the previous quarter, but were still up 3.6% compared with Q3 2022.
This is the first fall in prices since the middle of 2020 and reflects a downturn in construction output from the housing sector in Scotland, and the UK as a whole.
Underlying construction costs of labour, materials and plant, as measured by the BCIS General Building Cost Index (GBCI), rose 1.8% quarter-on-quarter in Q3 and by 2.5% compared with the same quarter a year earlier.
The SSHTPI is prepared by the Building Cost Information Service (BCIS) for the Scottish Government More Homes Division.
