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Construction costs in Los Angeles are increasing below the national average and several other popular West Coast markets. According to property and construction consultancy firm Rider Levett Bucknall, construction costs in Los Angeles increased 4.4% in 2018, while costs nationally were up 5.73%. Phoenix, San Francisco, Portland and Seattle, experienced some of the highest construction costs increases in the nation, with Portland seeing the highest price increase on the West Coast at 7.13%.

“If you look at our index, the 4.4% increase is a standard amount of growth,” Brian Lowder, principal at Rider Levett Bucknall, tells GlobeSt.com. “Despite the increase in construction costs, we are continuing to experience significant projects in the Los Angeles area. We are seeing a healthy economy, and I don’t think that we have reached the peak of the cycle yet.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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