Contractors face increasing cost pressures as tender workload slows

Contractors are facing increasing cost pressures with tender workload increase in the South of England at its slowest since the Covid-19 pandemic, a key industry report has found.
High inflation and interest rates are impacting spending within the construction industry, while build costs are continuing to apply pressure to profit margins, according to analysis from Southern Construction Framework (SCF). The procurement framework, which delivers major public sector constructions across London, the South West and South East, said its survey had found tender workload increased during the third quarter by an average of 2.5% across all trades – compared with 3.5% in 2022 and 8 …