Materials and labour shortages have pushed the cost of construction up by 10%, according to the RICS.
In its quarterly survey, 82% of respondents said that a shortage of materials was hampering the market in the second quarter — the highest level since the survey began in 2012.
Nearly two thirds of respondents also identified issues around labour shortages.
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Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
