In the past year new orders have declined rapidly, and tender prices
have followed them down. Every updated forecast seems to deepen
the gloom a little more; for example the Building Cost Information
Service’s (BCIS) tender price forecast for this yearwas amended from
–9.5% to –11.6%. However, it has so far maintained its forecast of a fall of
–2.8% for the 12 months to the fourth quarter of next year.