{"id":33247,"date":"2017-05-16T15:07:01","date_gmt":"2017-05-16T14:07:01","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=33247"},"modified":"2017-05-16T15:07:01","modified_gmt":"2017-05-16T14:07:01","slug":"london-fifth-expensive-city-for-construction","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/","title":{"rendered":"London named fifth most expensive city for construction"},"content":{"rendered":"

A new survey has revealed London is the world\u2019s fifth most expensive city for construction, despite the slump of the pound<\/h2>\n

Research from professional services company Turner & Townsend<\/a> has revealed London is the fifth most expensive city for construction in the world. The firm examined 43 regions and cities in its annual report and placed the capital in fifth place, a slip from last year when it hit third place<\/a>.<\/p>\n

The news is perhaps surprising, given the decline in the value of the pound since Britain voted to leave the EU. However, London is only surpassed by New York, San Francisco, Zurich, and Hong Kong when it comes to commercial and residential construction.<\/p>\n

Construction costs rise as skills shortages grow<\/h3>\n

According to Turner & Townsend\u2019s survey<\/a>, construction in London totals $3,214 per square metre. Demand for infrastructure work and labour shortages are set to push this figure up by a further 4.1 per cent in 2017.<\/p>\n

Comparatively, New York\u2014which topped the chart\u2014came in at $3,807 per square metre. In second place, San Francisco\u2019s construction costs hit just over $3,549 this year, while Zurich and Hong Kong reached $3,527.87 and $3,487.82 per square metre, respectively.<\/p>\n

Turner & Townsend said London would have scored higher if the pound had not slumped so far against the dollar in the wake of the Brexit vote.<\/p>\n

Furthermore, the growing skills shortage had pushed the global cost of construction inflation to 3.7 per cent in 2016. This was an increase from 2.9 per cent seen in 2015. The skills shortage remains a global issue, not just a UK one, with only four cities (Muscat, Perth, Santiago and Sao Paulo) reporting a surplus of workers.<\/p>\n

Steve McGuckin, global managing director for real estate said: \u201cIt is clear that construction is not doing nearly enough to tackle this issue, which if not addressed has the potential to become a crisis.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

A new survey has revealed London is the world\u2019s fifth most expensive city for construction, despite the slump of the pound<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[676,649],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-33247","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-construction","8":"tag-planning-applications"},"acf":[],"yoast_head":"\nLondon named fifth most expensive city for construction<\/title>\n<meta name=\"description\" content=\"A new survey has revealed London is the world\u2019s fifth most expensive city for construction, despite the slump of the pound\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"London named fifth most expensive city for construction\" \/>\n<meta property=\"og:description\" content=\"A new survey has revealed London is the world\u2019s fifth most expensive city for construction, despite the slump of the pound\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building & Construction Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PBCToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-16T14:07:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2017\/05\/dreamstime_s_3784458.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"522\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lisa Carnwell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@PBC_Today\" \/>\n<meta name=\"twitter:site\" content=\"@PBC_Today\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/\"},\"author\":{\"name\":\"Lisa Carnwell\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/a3c579395b9fa3afe1bb370843acfc38\"},\"headline\":\"London named fifth most expensive city for construction\",\"datePublished\":\"2017-05-16T14:07:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/\"},\"wordCount\":314,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"keywords\":[\"Construction Processes\",\"Planning Applications\"],\"articleSection\":[\"Planning & Construction News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/#respond\"]}],\"copyrightYear\":\"2017\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/\",\"name\":\"London named fifth most expensive city for construction\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\"},\"datePublished\":\"2017-05-16T14:07:01+00:00\",\"description\":\"A new survey has revealed London is the world\u2019s fifth most expensive city for construction, despite the slump of the pound\",\"breadcrumb\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.pbctoday.co.uk\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"London named fifth most expensive city for construction\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"name\":\"Planning, Building & Construction Today\",\"description\":\"The Latest Planning, Building & Construction News\",\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\",\"name\":\"Planning, Building & Construction Today\",\"alternateName\":\"PBC Today\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"contentUrl\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Planning, Building & Construction Today\"},\"image\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/PBCToday\/\",\"https:\/\/x.com\/PBC_Today\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/a3c579395b9fa3afe1bb370843acfc38\",\"name\":\"Lisa Carnwell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1fcf8fe4d0bb386422671c004870f9914448822f3ca1a741922d383c5a867e0e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1fcf8fe4d0bb386422671c004870f9914448822f3ca1a741922d383c5a867e0e?s=96&d=mm&r=g\",\"caption\":\"Lisa Carnwell\"},\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/author\/lisa-carnwell\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"London named fifth most expensive city for construction","description":"A new survey has revealed London is the world\u2019s fifth most expensive city for construction, despite the slump of the pound","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/","og_locale":"en_US","og_type":"article","og_title":"London named fifth most expensive city for construction","og_description":"A new survey has revealed London is the world\u2019s fifth most expensive city for construction, despite the slump of the pound","og_url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/","og_site_name":"Planning, Building & Construction Today","article_publisher":"https:\/\/www.facebook.com\/PBCToday\/","article_published_time":"2017-05-16T14:07:01+00:00","og_image":[{"width":800,"height":522,"url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2017\/05\/dreamstime_s_3784458.jpg","type":"image\/jpeg"}],"author":"Lisa Carnwell","twitter_card":"summary_large_image","twitter_creator":"@PBC_Today","twitter_site":"@PBC_Today","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/#article","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/"},"author":{"name":"Lisa Carnwell","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/a3c579395b9fa3afe1bb370843acfc38"},"headline":"London named fifth most expensive city for construction","datePublished":"2017-05-16T14:07:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/"},"wordCount":314,"commentCount":0,"publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"keywords":["Construction Processes","Planning Applications"],"articleSection":["Planning & Construction News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/#respond"]}],"copyrightYear":"2017","copyrightHolder":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/","url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/","name":"London named fifth most expensive city for construction","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#website"},"datePublished":"2017-05-16T14:07:01+00:00","description":"A new survey has revealed London is the world\u2019s fifth most expensive city for construction, despite the slump of the pound","breadcrumb":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/london-fifth-expensive-city-for-construction\/33247\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.pbctoday.co.uk\/news\/"},{"@type":"ListItem","position":2,"name":"London named fifth most expensive city for construction"}]},{"@type":"WebSite","@id":"https:\/\/www.pbctoday.co.uk\/news\/#website","url":"https:\/\/www.pbctoday.co.uk\/news\/","name":"Planning, Building & Construction Today","description":"The Latest Planning, Building & Construction News","publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization","name":"Planning, Building & Construction Today","alternateName":"PBC Today","url":"https:\/\/www.pbctoday.co.uk\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","contentUrl":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","width":1920,"height":1080,"caption":"Planning, Building & Construction Today"},"image":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PBCToday\/","https:\/\/x.com\/PBC_Today"]},{"@type":"Person","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/a3c579395b9fa3afe1bb370843acfc38","name":"Lisa Carnwell","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1fcf8fe4d0bb386422671c004870f9914448822f3ca1a741922d383c5a867e0e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1fcf8fe4d0bb386422671c004870f9914448822f3ca1a741922d383c5a867e0e?s=96&d=mm&r=g","caption":"Lisa Carnwell"},"url":"https:\/\/www.pbctoday.co.uk\/news\/author\/lisa-carnwell\/"}]}},"publishpress_future_action":{"enabled":false,"date":"2026-10-22 15:06:22","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/33247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/comments?post=33247"}],"version-history":[{"count":0,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/33247\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/media?parent=33247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/categories?post=33247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/tags?post=33247"},{"taxonomy":"stakeholder_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/stakeholder_rel_tag?post=33247"},{"taxonomy":"contributor_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/contributor_rel_tag?post=33247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}