The House Construction Cost Index monitors labour costs in the construction industry and the cost of building materials. The type of construction covered is a typical 3 bed-roomed, 2 level local authority house and the index is applied on a national basis. The graph charts house construction costs from 2007.
Construction projects are becoming increasingly complex, while the modern economy leaves less and less room for cost overruns. A Construction Cost index helps create a clearer understanding and picture of the cost situation of a construction project.