Scottish Social Housing Tender Price Index (SSHTPI) quarterly report: March 2026

Background

• the provisional results for 3Q 2025 to 2026 indicate an increase of 2.6% on 2Q 2025 to 2026, and an increase of 9.8% in the year from 3Q 2024 to 2025
• the rises reflect the falls in the index in the second and third quarters of 2024 to 2025. The 3Q 2025 to 2026 index is 1.2% up on the previous peak index in 1Q 2024 to 2025
• the firm index for 1Q 2025 to 2026 indicates a quarterly increase of 3.7%
• on an annual basis, the 1Q 2025 to 2026 figure is down on 1Q 2024 to 2025 by 3.5%
• underlying construction costs of labour, materials, and plant, in 3Q 2025 to 2026, as measured by the BCIS General Building Cost Index (GBCI), increased by 0.2% on a quarter-on-quarter basis and increased by 4.5% when compared with the same quarter a year earlier
• over the year to 3Q 2025 to 2026, underlying inflation, as measured by the Consumer Prices Index (CPI), rose by 3.4%

Table 1: SSHTPI Quarterly Index

Published index base         1985 = 100

Financial quarter notes: 1Q: first quarter April to June; 2Q: second quarter July to September; 3Q: third quarter October to December; 4Q: fourth quarter January to March.

Source: Scottish Government

Note: The quarterly index is a smoothed, trimmed geometric mean of the normalised project index (see note on calculation).

Table 2: SSHTPI Location Indices

Calendar quarter 4Q 2025, Financial quarter 3Q 2025 to 2026, Publication quarter 1Q 2026

Note: the location indices are calculated over 15 quarters and are based on the Scottish mean = 100 (See note on calculation). Sample sizes <=4 they are not included in Table 2.

Source: Scottish Government