With britain "enjoying its longest period of sustained economic growth for more than 200 years" according to Gordon Brown's Budget speech, it is little wonder that building tender prices have experienced seven continuous years of real growth over and above underlying inflation. Tender prices in Greater London, measured by DLE's Tender Price Index, edged up in the first quarter of 2004 by 0.5%, in line with expectations. Over the latest 12-month period, the index shows an increase in tender prices of 2.5%. This is the lowest year on year increase since the end of 1996, when the economic and construction recovery of the 1990s was temporarily halted. But across the nation as a whole, tender prices have continued to move forward at a faster rate, averaging a rise of 4% over the year just completed.
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