RLB: Construction costs rise 1.2% in Q4; up 5.2% YOY
Working with the twelve markets that quantity surveyor and development consulting agency Rider Levett Bucknall tracked in its fourth quarter 2019 North The usa Quarterly Building Charge Report, U.S. development costs rose an common of 5.two% from Oct 2018 to Oct 2019. The common maximize in development costs between the 3rd and fourth quarters of 2019 was one.two%.
Marketplaces coming in higher than the 12 months-above-12 months common were:
- San Francisco (7.eight%)
- Chicago (6.three%)
- Honolulu (6.two%)
- Seattle (6.two%)
- Washington, D.C. (6.two%)
- Portland (5.eight%)
Metros areas coming in beneath the common were:
- Phoenix (5%)
- Las Vegas (4.eight%)
- Denver (4.three%)
- New York