The latest SCSI Tender Price Index report indicates an easing of construction price inflation, attributed to fuel and energy prices abating, coupled with a slight easing in supply chain issues.
The latest Index shows that, while costs are continuing to rise, the rate of inflation eased significantly towards the end of last year to 4%.
SCSI president Kevin James said:
“While there are signs the rapid rate of construction inflation has peaked, it is also likely the increased costs of fuel and energy will continue to impact manufacturers for the foreseeable future. The SCSI Tender Price Index has risen by a record 26 per cent over the last two years and concern remains as to how long it will take for inflation to fall to more acceptable levels”.
The Tender Price Index is compiled by Chartered Quantity Surveying members of the SCSI. The Tender Price Index 2H 2022 is based on sentiment returns only.
Tags: tender price index, SCSI, kevin james
Tender Price Index – February 2023
The Cogent soccer team did us proud, with a fantastic performance at last Friday’s SCSI Nexus 5-a-side soccer tournament.
Our team reached the quarter-finals, thanks to the skill and camaraderie on and off the pitch – the pre-match warm-up and refreshments made for some great games and good team fun.
A big thank you to the SCSI – Society of Chartered Surveyors Ireland for hosting a great tournament and BBQ.
Tags: football, Events, SCSI
Cogent Managing Director and SCSI President Kevin James shares key recommendations for Government, on the back of the latest SCSI Tender Price Index results.
Commercial construction tender price inflation is running at 14%, following an average increase of 7.5% in the first 6 months of this year.
The SCSI recommends to Government to address inflation by focusing on soft costs such as planning reforms and utility connection charges. Government should reduce overall levels of risk and costs of delivery where they can, such as reducing planning delays and timelines.
Tags: tender price index, SCSI, kevin james
Tender Price Index – July 2022
Yesterday our Managing Director Kevin James and Oakmount’s Lisa Rocca shared insights with the joint committee of Housing, Local Government and Heritage on behalf of the Society of Chartered Surveyors Ireland.
A range of short, medium and long-term actions were tabled to help make residential projects more viable. There followed a Q&A session with the 13 Deputies and Senators in attendance, with the focus on construction costs and a series of recommendations to improve the speed and cost efficiency of construction.
The opening statement by the SCSI is available here and the full submission, here.
A recording of the session, which includes the opening statements by the panel and an extensive Q&A session is available here.Tags: construction costs, residential, SCSI, kevin james
Cogent Managing Director Kevin James offers insights into SCSI findings of 13% construction price inflation in 2021, on RTE Radio 1 Business News.
The main reasons for current price inflation are high price volatility across a range of building materials — particularly insulation, cement, plasterboard metals and fuel – labour shortages and the extremely high demand for projects across all tiers as the industry continues to readjust in the wake of the Covid crisis.
The SCSI calls on government to introduce additional measures to ensure existing projects are afforded a level of price variation. This will enable contractors to respond to frequent material prices increases and ensure more balanced risk pricing.
The industry will have to step up its cost benefit analysis of materials, utilise modern methods of construction, identify innovative cost saving solutions and streamline pre-construction periods to minimise the impact of inflation.Tags: Price Inflation, tender price index, SCSI
Cogent Managing Director and SCSI vice-president Kevin James shares concerns around viability and procurement in the construction sector with the Sunday Independent Newspaper.
Since publication, we have already seen significant increases in energy prices, timber and steel.
SCSI/PwC Construction Market Monitor 2022Tags: Sunday Independent, Construction Market Monitor, SCSI
With housing shortages and the EU’s NZEB deadline for newbuilds looming, the social housing developments by Cluid in Co. Kerry are current examples of rapid build and energy efficient construction.
Cogents experience with this development, combined with DCC’s modular building projects, is providing us with valuable insights into new construction methods, designed to meet the current demands facing the housing sector.
The major challenge, as outlined in the SCSIs most recent Tender Price Index Report, is the skill shortages. With costs forecast to rise another 6.3pc this year, well-informed, fact-based decision making will be crucial.Tags: DCC, Housing, residential, Cluid, TPI, SCSI
The Society of Chartered Surveyors Ireland Tender Price Index Report has forecasted a national increase of 3.35% for the first 6 months of 2019. The report also highlights a slowing of tender inflation for the first time since early 2017. This will bring construction prices back to peak 2007 levels.
SCSI QS Group Chair and Cogent Associates Managing Director Kevin James, explained that “allowances for Tender Price Inflation (TPI) among construction projects vary according to their sector, size, complexity and location, therefore advice should be sought from a Chartered Quantity Surveyor before deciding an appropriate TPI provision for your construction project.”
Tender Index Mar 2019
Tags: pricing, tender price index, SCSI
As Chair of the Quantity Surveying Group within the SCSI Kevin James spoke at the SCSI/PwC Construction Market Monitor 2018 Report Launch on the 03rd May in PwC.
Kevin is pictured with fellow speakers, John Mulcahy Executive Chairman, Glenveagh Properties plc and Joanne P. Kelly Partner, Asset and Wealth Management, PwC.
In the background you’ll see the new Landmark Central Bank Headquarters delivered by Cogent Associates.
A copy of the report is available to download here.Tags: Glenveagh Properties, Central Bank., SCSI, PwC Ireland
As part of their on-going Career Action Plans (CAP), Cogent Associate team members attended one of their regular lunchtime training sessions for their APC.
The Assessment of Professional Competence (APC) is typically a period of structured on-the-job training and assessment under the guidelines set out by the The Society of Chartered Surveyors Ireland.
It is comprised of a set list of skills — or competencies — set out by each of the Society’s Professional Groups. In order to become Chartered within one of these Professional Groups, a candidate must attain these competencies to the required level. The competencies are a mix of interpersonal, business and technical skills.
To find out more about the APC, check out the SCSI website hereTags: SCSI, APC, Cogent Associates