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Cleaning Costs Will Rise by 28% Over Next Five Years

Cleaning Costs Will Rise by 28% Over Next Five Years
26 July 2023
 

The Building Cost Information Service predicts that cleaning costs will rise 28 per cent between now and 2028.

The building and construction data analyst also says that maintenance costs will rise nearly 20 per cent in the same forecast period.

With inflation coming down slower than expected and interest rates rising, the FM market will be subject to restricted budgets, despite buildings in both the public and private sectors needing substantial investment to improve environmental performance.

However, energy prices are expected to fall by over 60 per cent in the forecast period, as the markets stabilise.

 

Costs For All FM Services Will be Affected

 

The Building Cost Information Service (BCIS) claims that facilities managers will need to work hard to demonstrate the long-term effects of budget cutbacks to protect the built environment.

Costs rose 8.3 per cent in the year to Q1 2023 and are forecast to increase nearly 10 per cent in the year to Q1 2024 and 6 per cent in 2025. These will be followed by annual increases above 3 per cent for the rest of the forecast period. This is partly due to rising labour costs and the reduced labour pool. According to data from the Office for National Statistics (ONS) analysed by BCIS, there has been a declining trend in total employment in construction since the pandemic, mostly driven by a fall in self-employed workers.

Picture: a photograph of two people working next to each other on laptops. Once person is also writing on a piece of paper. Image Credit: Unsplash

Article written by Ella Tansley | Published 26 July 2023

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