In January 2025, the average weekly salary and bonuses of construction workers in the United Kingdom (UK) reached 792 British pounds. This was higher than the salary in the same period of the previous year. The number of construction job vacancies in the UK in that quarter had an even sharper decline.

The construction output price in the United Kingdom has reached an annual growth rate of two percent in September 2024. Construction costs have been increasing at a lower rate than in 2022 and 2023. The year-over-year growth rate reached over 10 percent in May and June of 2022. Public and private housing was the construction segment with the highest output price increase. How have material costs developed over the years? Several factors influence construction material costs, including supply and demand, regulatory requirements, and transportation logistics. Manufacturing efficiency and global trade policies also play a big part, along with economic factors like inflation and currency fluctuations. In June 2022, the price of construction materials for new houses in the UK were 53 percent higher than in 2015. What is the largest component of those costs? Labor costs are often one of the largest expenses in construction projects. That is due to the skilled nature of the work, which has a high demand for specialized trades. The construction sector's labor costs accounted for around 58 percent of the sector's earnings in the United Kingdom in 2023. In the past years, the size of labor costs as a share of the construction sector rose by more than three percentage points, indicating that labor costs have increased at a faster rate than the overall revenue of the industry.

This dataset contains the indices of UK hourly Construction Wage Costs (quarterly; not seasonally adjusted; 2000 = 100) and UK Construction Material Prices for New Housing, Other New Work, Repair and Maintenance, and All Work (monthly; 2010 = 100).

In 2024, London had the highest housing construction costs for residential buildings in the United Kingdom. The expense of building an apartment high-rise in the UK's capital amounted to 4,133 British pounds per square meter of internal area, while the cost of townhouses were 3,280 British pounds per square meter. Manchester was the second city on the list with the highest residential construction costs.

Construction Output Price Indices (OPIs) from January 2014 to December 2024, UK. Summary.

From 2015 to the first quarter of 2024, the construction output prices of public and private housing increased by 46 percent in the United Kingdom (UK). Meanwhile, the prices of industrial buildings increased by 41 percent, and infrastructure prices by 37 percent. Housing and industrial are the segments that increased the most during that period. Balfour Beatty ranked in the past years as the construction firm with the largest revenue in the UK.

In 2024, Glasgow had higher construction costs for primary and secondary education buildings than the other cities in the United Kingdom included in this list. The construction costs for this type of building were also quite high in London, at 3,375 British pounds. On the other side of the spectrum, Birmingham was the city in the ranking with the lowest construction costs for this type of building.

United Kingdom Construction Material Price Index: New Housing data was reported at 122.200 2010=100 in Oct 2018. This records an increase from the previous number of 122.000 2010=100 for Sep 2018. United Kingdom Construction Material Price Index: New Housing data is updated monthly, averaging 107.950 2010=100 from Jan 2008 (Median) to Oct 2018, with 130 observations. The data reached an all-time high of 122.200 2010=100 in Oct 2018 and a record low of 90.600 2010=100 in Jan 2008. United Kingdom Construction Material Price Index: New Housing data remains active status in CEIC and is reported by Department for Business, Innovation and Skills. The data is categorized under Global Database’s United Kingdom – Table UK.I028: Construction Material Price Index: 2010=100.

Between 2018 and 2021, the cost of construction materials mostly increased in the United Kingdom. There was only a small decrease in their price in 2020. In 2021, the costs reached a 4.8 percent growth rate. Moreover, building materials costs are expected to grow by 17.6 percent in 2022. Nevertheless, these figures were calculated at the end of 2021, and therefore do not reflect the developments seen afterwards.

Intratec Plant Construction Cost Indexes (IC Indexes) are multipliers that adjust the construction cost of industrial plants over time. In other words, the IC Indexes provide a monthly series that measures changes in the capital expenditure (capex) required for building industrial plants.

IC Indexes monthly series measure the changes in the average cost of constructing a manufacturing plant, with historical data and short-term forecasts available to predict trends. Free previews for all IC Indexes are available at Intratec website.

IC Indexes for United Kingdom and up to 32 other countries are part of Intratec Industry Economics Worldwide. Subscribe and access now key factors impacting the costs of commodity manufacturing operations in strategic countries.

United Kingdom Construction Material Price Index: Repair and Maintenance data was reported at 122.600 2010=100 in Oct 2018. This records an increase from the previous number of 122.200 2010=100 for Sep 2018. United Kingdom Construction Material Price Index: Repair and Maintenance data is updated monthly, averaging 108.200 2010=100 from Jan 2008 (Median) to Oct 2018, with 130 observations. The data reached an all-time high of 122.600 2010=100 in Oct 2018 and a record low of 88.600 2010=100 in Jan 2008. United Kingdom Construction Material Price Index: Repair and Maintenance data remains active status in CEIC and is reported by Department for Business, Innovation and Skills. The data is categorized under Global Database’s United Kingdom – Table UK.I028: Construction Material Price Index: 2010=100.

The prices of many construction materials in the United Kingdom (UK) kept increasing in 2023. One of the most extreme examples was the price of screws and others, which rose by over 22 percent that year. Nevertheless, construction material prices grew at a slower rate than in previous years, with the price of a few materials falling sharply. In early 2024, asphalt, sand, and gravel were among the building materials with the highest price increases in the U.S.

NB Responsibility for the production of PCIs transferred to the Office for National Statistics (ONS) on 1 April 2015. See: http://www.ons.gov.uk/businessindustryandtrade/constructionindustry/articles/constructionoutputpriceindicesopis/interimsolutionquarter4octobertodecember2015

Presents quarterly price and cost indices are a basic tool of the trade to anyone involved in estimating, cost checking and fee negotiation on public sector construction works including roads.

Source agency: Business, Innovation and Skills

Designation: National Statistics

Language: English

Alternative title: Construction Price and Cost Indices

The raw data for the research "Comparing Neural Network Models Based on Macro Perspective Economic and Environmental Indicators with ARIMA Model in predicting Construction Cost Index in UK".

Data collector: Runda Zheng

Forecast: Labour Cost Per Employee FTE of Construction of Bridges and Tunnels in the UK 2023 - 2027 Discover more data with ReportLinker!

London and Munich were among the most expensive cities in Europe for the construction of warehouses in 2024, while advanced manufacturing facilities were the most expensive in Amsterdam. Meanwhile, among the selected cities, Paris had the lowest construction costs for warehouses. However, construction costs do not always follow the same trends as commercial real estate in Europe, with sale prices differing significantly in some cases. Warehouse take-up in Europe These high construction costs in the largest cities probably affect the take-up of large warehouses European cities. Instead, Birmingham in the United Kingdom (UK) came in first in 2023, with roughly 913,000 square meters of warehouse space spread throughout the municipality. Of the first ten entries, two werelocated in the UK, which makes it one of the most popular warehouse locations. Retail warehouse rental prices London was the UK region with the highest bix-box warehouse rent prices. As of the last quarter of 2023, roughly 28.5 British pounds were paid per square foot. This was more than twice the amount paid for the same type of buildings in the West Midlands. London was also the European city with the highest rent for warehouses, with Oslo and Helsinki following far behind.