Construction inflation has softened over the past year and building costs are forecast to rise by around 3% in 2024. However, the risk of underinsurance remains incredibly high, says RebuildCostASSESSMENT.com.
In May 2022, construction inflation rose to a record rate of 10.4%, according to the Office for National Statistics (ONS). A little over one year later this rate had fallen to less than 5%, and now BCIS is predicting building costs will rise by just over 3% by . . .
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