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One thing is certain in today’s world and that is that the future is uncertain, and this unfortunately influences our economy and also our industry. Given, the current political climate and increase in sanctions on Russia due to the conflict in Ukraine and an already inflated energy crisis, costs for fuel, oil and gas are all on the rise. Whilst these impacts may not have fully culminated as of, yet they will start to affect the entire industry including contractors, subcontractors, and suppliers.
The previous year provided 12 months of significantly high inflation levels. The latest RICS tender price indices show that on the year there has been an increase of 5.4% in tenders and an additional 4.5% predicted over the next year. One element that has risen dramatically this period is steel which has had several increases from British Steel with the latest coming just a few weeks ago of £250 increase per tonne. What this climate does is create a very tough marketplace to judge as we are witnessing unpredictable events and patterns that affect projects and their costs.
Our advice is to contract with caution and to have a thorough tendering process. A well-prepared tender and detailed analysis can ensure that all parties are aware of cost risks and where they lie. They can serve to protect interests that if not done correctly can leave parties dangerously exposed to significant cost increases without the ability to recoup the difference. So, when working in an uncertain market make sure you invest time up front to save pain further down the line.
We are delighted to announce Tony Daxon as a Director of Magnitude Quantity Surveyors.
Tony has over 30 years’ experience working and practicing as a Chartered Surveyor.
Previously of McBains & Tozer Gallagher, he has extensive knowledge in all sectors of the construction industry, providing and managing all aspects of pre and post contract Quantity Surveying, Contract Administration, Employer’s Agent, Project Management and Project Monitoring duties across a broad base of clients.
Martin Trimble, Managing Director of Magnitude Quantity Surveyors commented,
“Tony underpins our companies core values with his commitment to excellence, elite professionalism, ethics, and his willingness to go above and beyond, not only for our clients but for all of us too.
Tony will be leading and continuing the development of the commercial sectors of the business, together with ensuring quality practices are continued throughout the firm by overseeing the development of all three of our Manchester, Liverpool, and London offices.
I am delighted to welcome Tony into the role and I am excited for the next chapter.”
Beeston Cattle Market is an 84-unit residential development near Tarporley with a combination of private and affordable new homes. The scheme has been progressing significantly over the past months and the first set of houses have been handed over to purchasers. Magnitude have been delighted to assist Eaton Homes with their Professional Quantity Surveying and Employer’s Agent Services on this wonderful scheme in heart of the Cheshire countryside. Penny Martin Project details.
As always, we are here for all your Quantity Surveying needs. Please feel free to reply to this email with any question or enquires.
Regards,
The Magnitude Team
