International construction cost survey 2012
International construction cost survey 2012
International construction cost survey 2012
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<strong>International</strong> <strong>construction</strong> <strong>cost</strong> <strong>survey</strong> <strong>2012</strong><br />
UK<br />
The UK market continues to be directly affected by economic uncertainties within Europe, as the<br />
eurozone represents the UK’s largest trading partner. Consumer confidence within the UK is on<br />
the decline, and this economic ambiguity is having a negative effect on private sector activities<br />
in the face of dwindling public sector investment due to government austerity measures. This<br />
is making the industry increasingly dependent on long-term infrastructure projects and a rise<br />
in private sector investment to fill the void. Unemployment is rising as employers attempt to<br />
maintain current staffing levels leading to lower than inflation level wage increases. However,<br />
falling inflation rates should ease the pressure on wages throughout <strong>2012</strong>.<br />
34 Turner & Townsend<br />
UK – international building <strong>cost</strong>s per m2 of internal area<br />
2008 2009 2010 2011 2011<br />
GBP GBP GBP GBP USD<br />
Residential<br />
Detached house – medium standard 1,050 1,050 1,020 1,058 1,696<br />
Detached house – prestige 1,465 1,465 1,465 1,519 2,436<br />
Townhouse – medium standard 1,008 1,200 1,200 1,244 1,995<br />
Apartments – private medium density 1,624 1,800 1,800 1,867 2,994<br />
Apartments – high rise 2,170 2,300 2,300 2,385 3,824<br />
Aged care/affordable units<br />
Commercial<br />
1,800 1,820 1,820 1,887 3,026<br />
Offices – business park 1,500 1,500 1,500 1,556 2,495<br />
CBD offices up to 20 floors – medium 2,972 2,700 2,700 2,800 4,489<br />
CBD offices – prestige<br />
Warehouses<br />
1,833 3,800 3,800 3,941 6,319<br />
Warehouse/factory unit – basic 691 800 800 830 1,331<br />
Large warehouse distribution centre 867 900 900 933 1,496<br />
High-tech factory/laboratory<br />
Retail<br />
1,365 1,500 1,500 1,556 2,495<br />
Large shopping centre including mall 2,200 2,200 2,200 2,281 3,657<br />
Neighbourhood including supermarket 1,835 1,835 1,835 1,903 3,051<br />
Prestige car showroom<br />
Hotels<br />
2,000 2,000 2,000 2,074 3,325<br />
Three-star travellers 1,300 1,200 1,200 1,244 1,995<br />
Five-star luxury 2,500 2,500 2,500 2,593 4,158<br />
Resort style<br />
Hospitals<br />
2,500 2,500 2,500 2,593 4,158<br />
Day centre 1,295 1,531 1,531 1,588 2,546<br />
Regional hospital 2,639 2,514 2,514 2,607 4,180<br />
General hospital<br />
Schools<br />
1,740 1,733 1,733 1,797 2,881<br />
Primary and secondary 1,553 1,590 1,350 1,400 2,245<br />
University<br />
Carparks<br />
2,240 2,200 2,180 2,261 3,625<br />
Multistorey – above ground 437 450 450 467 749<br />
Multistorey – below ground<br />
Airports<br />
870 850 850 881 1,413<br />
Airport terminal 3,150 3,050 3,050 3,163 5,072<br />
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