Leading industry figures from the Federation of Master Builders and the Construction Products Association have warned the price hikes in building materials will make new build homes more expensive.
Today’s Conveyancer reports that the chief executives of the Builders Merchants Federation and the Construction Products Association, John Newcomb and Peter Caplehorn, say the availability of materials has sharply worsened following the relaxation of Covid restrictions on building work.
There have been similar projections worldwide, with major economies such as China, the US and the EU surge following lockdowns.
Industry leaders say previously reported issues relating to timber, steel, pitched roofing, plastics and paints and coatings continue, and now growing areas of concern now include certain electronic components and bagged cement.
The warnings come with figures from the Office for National Statistics that project a rise of seven to eight per cent in material prices, with increases for certain materials, such as timber, expected to more than double during the year.
“New rules on hauliers have exacerbated the shortage of drivers in the UK, which is another contributing factor adding to delays and lead times not only in the construction industry but many other sectors as well,” they warn.
“The surge in demand means some SME builders are not able to purchase essential materials, like timber, cement and roof tiles, as readily off the shelves. This not only impacts their ability to complete projects, but also the cash flow of their business.”
The warning added that the unprecedented levels of demand in the Uk and globally is set to continue for the foreseeable future, meaning that forward planning and communication needs to be prioritised.
“Only by working positively together can we endeavour to provide customers with the products and solutions they require to complete projects in a timely manner.”
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