Energy, maintenance, cleaning costs rising
Prices for a range of facilities-related services have risen faster than inflation.
The RICS is reporting that costs of maintenance, cleaning, and energy have all risen faster than inflation over the past year.
The BCIS Maintenance Cost Index, which represents the cost of fabric and services maintenance and redecorations, has risen 4.4% in the year from Q2 2017 to Q2 2018.
The energy cost Index, a weighted index of fuels, rose by 7.5%. Cleaning costs rose by 4.9%
The BCIS calculates that retail prices rose 3.1% over the same period.
The RICS says that both maintenance and cleaning costs have been affected by increased labour costs. Cleaning costs particularly reflect the impact of the increases in the National Living Wage on low paid workers.