Construction Costs Increase in Major Markets to September 2007 Levels
Construction costs have increased to about the same levels they were in September 2007, according to a recent report from construction consulting firm Rider Levett Bucknall. From the last year and a half of quarterly upticks in construction bid prices, RLB reports it is clear that construction costs have passed their low point and are heading upward.
The concern is that bid prices are rising less quickly than the combined cost of labor and materials, says RLB President and Global Board Member Julian Anderson.