Podcast Appearances
So yeah, there's ups and downs, it all averaged out to a fairly flat sort of picture.
Yeah, as I say, fits with that downturn we've seen.
However, I guess there's a couple of things that I got questioned about.
And one was, yeah, but isn't the industry picking up now?
And yes, that is part of it.
So we've seen dwelling concedents rise on an annual basis.
We had at the trough, they're about sort of 34,000 going back six to 12 months.
over that more recent six months that the annual running total is now up to about 37 and a half thousand so the industry is picking up it does sort of fit with that idea that we're just seeing a little bit more cost growth but still relatively controlled so I think you know in the coming period now consents don't necessarily flow through to actual work of course we know that but there is a pretty good pass through so
the fact that dwelling concerns picking up the news is a little bit better you would think that would flow through to more activity in the construction sector which will probably flow through to a bit more cost growth as well
then yeah iran i mean we've already we talked a couple of weeks ago about that that anecdote of of transport costs already being passed through from some suppliers to the construction industry that was there was bricklaying industry um so you know you'd think that's probably got more to run for a while maybe builders absorb that in their margins but they probably can't do that forever they're presumably at some point going to pass that through to output prices so
You know, there's probably some inflation in the pipeline here for the construction industry, both from a bit more activity, but also from
the Iran situation.
So this could be, you know, the start of more to come.
Still controlled for now, but definitely keeping an eye on those Q2 numbers.
So, yeah, I think that was kind of the gist of it.
Yeah.
So, I mean, just tying in the triple CI to that OCR, all the acronyms in there, but
Just one thing to say about the triple CI is that when I say cost growth is still relatively controlled, that is growth.
There's a difference again between the growth in cost and the level of cost.
And people might hear me saying, oh, cost growth is pretty controlled, nothing necessarily to worry about.