What is BER index?
The BER Building Cost Index is a measure of the percentage change in average building costs in South Africa. It is based on an analysis of the tariffs (rates) in accepted tenders supplied by quantity surveyors (QS).
What is enr construction Cost Index?
The Materials Cost Index is the materials component of ENR’s building and construction cost indexes. It tracks the weighted price movement of structural steel, portland cement and 2 X 4 lumber.
What is building cost indices?
The Prime Building Cost Index (PBCI) measures the changes, from month to month, in the prices of building materials and labour cost for the construction industry. The index is computed with reference to price levels in September (1997).
How to calculate building Cost Index?
Weightages are allotted as per the sound engineering practices/standards. Step 1 Calculation of Price relative as the ratio of the current price to the base price multiplied by 100 i.e. (P1/Po)X100. Step 3 Calculate the indices for the sub groups/groups/ major groups using Laspeyres formula.
What is CPI currently in South Africa?
South Africa: Price
| Reference | Last | |
|---|---|---|
| Consumer Price Index (CPI) | Aug 2021 | 122.3 |
| Wholesale Price Index | 2016 | 141.94 |
What does BER BCI stand for?
The BER Building Cost Index (BCI) is a measure of the percentage change in average building costs in South Africa.
What is price escalation in construction?
Price escalation is the upward movement of prices and can be factored in into a contract. If it goes beyond what is expected, price escalation can affect a contractor’s cash flow and lead to delays in construction and lower quality work.
What are the types of price index?
Some notable price indices include:
- Consumer price index.
- Producer price index.
- Wholesale price index.
- Employment cost index.
- Export price index.
- Import price index.
- GDP deflator.
How do you calculate construction cost escalation?
A simple way to calculate standard escalation would be to use a Construction Cost Index for the state where the project will be constructed….The second method would be:
- Average = (% at 2003 + % at 2007) /2 + % at 2003.
- Average = (1.0% + 1.3%) / 2 + 1%
- Average = 2.15% per year (0.179 % per year)
Which is an example of an escalation index?
Escalation Index. An index used to measure change in the price of specific good or service, or basket of goods and services, relative to a base year. Producer Price Indices for particular industries and the Employment Cost Index, both developed by the Bureau of Labor Statistics, are examples.
Is the BER Building Cost Index widely accepted?
The BER Building Cost Index is widely accepted by the quantity surveying profession. However, not only members of the quantity surveying profession find the building cost data useful, but also building contractors, lawyers and arbitrators, property valuers, insurance brokers and insurance companies and, of late, asset management companies.
Is the BER BCI a 5 year forecast?
The historical BER BCI, along with a 5-year forecast (pre-tender escalation). A 5-year forecast of the Contract Price Adjustment Index (Haylett index) for workgroups 180 and 181 (post-tender escalation).
Is the BER Building Cost Index a CPAP?
Stats SA continues to publish data for the Contract Price Adjustment Provisions Work Group Indices (CPAP). The BER Building Cost Index is a unique index, as it is based on an analysis of accepted tender prices (i.e. the ex-ante output prices of building contractors).
