News

Spiralling costs mean London’s builders turning down jobs in droves

By Dave Rogers 2022-02-02T09:21:00

london 3

As inflation climbs, Aecom report finds main contractors don’t want to be saddled with fixed-price work

London’s biggest contractors are turning down the chance to bid half the schemes they come across because of worries they will be lumbered with loss-making jobs.

A survey of Tier 1 and Tier 2 firms by Aecom found that the rate at which contractors turned down jobs versus the number of schemes they were asked to bid sat at 49% – meaning just over half of those asked decided not to bother pricing up a job.

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