The BCIS Private Housing Construction Price Index (PHCPI) is a measure of the prices paid by housebuilders for constructing houses, i.e. changes in their cost of direct/sub-contracted labour, plant and materials, overheads and profit attributed to the construction of houses. It excludes the cost of land and other development costs and any development profit. This index is based on prices reported by housebuilders building on their own behalf in each quarter and is therefore closer to an output price index than a tender price index.
PHCPI allows housebuilding developers to benchmark their own changes in costs for housebuilding. It also serves as a measure of price movement in the private housing sector. It is not an index of contractors’ tendered prices for building houses for external clients; in that case the BCIS Tender Price Index is the most appropriate index.
The index is usually published at 9.30am on the Monday following the second Friday of the last month in the quarter, i.e. in March, June, September and December.
The next publication of the PHCPI is due on 11th September 2023 and will be published on BCIS Online.