Housing maintenance prices

Citation

(2002), "Housing maintenance prices", Property Management, Vol. 20 No. 1. https://doi.org/10.1108/pm.2002.11320aab.011

Housing maintenance prices

Housing maintenance prices

Prices for housing maintenance work are continuing to rise faster than the associated input costs, according to the latest edition of the BMI Quarterly Briefing of Maintenance Costs (BMI Special Report 302 – BMI Quarterly Briefing of Maintenance Costs is available as part of the BMI Bulletin Service or individually, priced £80).

Prices in the private sector have shown a year on year increase of over 10 per cent for the fifth successive quarter. The public housing maintenance price index has also consistently risen faster than the general rate of inflation, albeit more moderately than the private sector.

The BMI All-in Index has risen faster than the Retail Prices Index over the same period, as shown in Figure 1.

BMI forecasts indicate that the combination of labour and material costs will lead to the All-in Maintenance Index rising 3.8 per cent between first quarter 2001 and first quarter 2002, and by a further 4.9 per cent the following year. The private sector wage awards are the main reason for the increase in costs as material prices are expected to rise by between 2 per cent and 3 per cent in each of the next two years.

BMI collects and analyses data on property occupancy cost from subscribers. These are published as individual data sheets, as well as forming the basis of special reports. BMI also responds to the emergence of new and important topics and to changing economic situations by publishing special reports for subscribers on a wide variety of statistical and technical subjects.

BMI is a subscription based service for professionals concerned with cost effective property occupancy and facilities management.

For further information, contact Alan Cowan at BMI, 12 Great George Street, Parliament Square, London SW 1 P 3AD. Tel: 020 7695 1500.