Karl Horton, data services director at Building Cost Information Service (BCIS), cautioned that there is “no room for complacency”, as insolvencies remain above pre-pandemic levels.
He warned that ongoing geopolitical uncertainties could push costs higher and affect project viability, leading to more insolvencies if instability continues.
Kelly Boorman, national head of construction at RSM UK, added: “Material and labour costs have remained stable, but as an energy intensive industry, the anticipated price spikes caused by the conflict in the Middle East will likely hit the industry hard in the coming months and could significantly hamper growth efforts.”
The overall insolvency rate for companies in England…