A sustained period of rapidly rising profitability for architects has come to an abrupt end, RIBA’s annual benchmarking survey has found.

This is the first year revenue has not increased since the survey was launched in 2012. Total revenue fell by 1% – essentially flatlining at £3.6bn – which the institute described as “a significant deviation”.

Practices saw their revenue more than double between 2012 and 2019, with strong year-on-year growth and an increase in exports.

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