What is the BPI (Building Price Index)?

The building price index is a statistical based method of measuring building price movements over time for the purpose of updating non-residential building construction budgets.

It is a composite index with weighted factors on an industry wide basis. As such it does not relate to specific building type whether by function (school, hospital etc.) or by construction (reinforced concrete frame, steel frame brickwork etc.)

Generally speaking this is not a significant limitation, since the individual and overall weightings applied lessen the effects of significant specific movements. However, if necessary auxiliary indices could be created for projects with special circumstances e.g. a project with a high engineering services content, or even a high building plant content.