find out the value of your home in 60 seconds

Increased Prices from Contractors

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp

Contractors will always be an essential part of property maintenance because problems can arise at any time. There are a number of factors at the moment impacting on the availability of contractors. 

Price Increase – Why? 

In recent months, there has been an increase in contractor prices brought on by a number of issues including a lack of trades people and a large call for contractors as, post COVID and many have decided to make improvements to their property. The supply disruption within the UK due to a lack of delivery drivers has created a further bottle neck with materials/supplies being in short supply. 

Specific locations have been closed due to outbreaks, production stops and supply networks breaking down, making it nearly impossible to guarantee transport of correct items to the right places.

Brexit-related issues have caused custom delays and a labour shortage, and recent Californian wildfires have prompted North American consumers to seek more European timber, causing a demand-side constraint.

Is There a Knock-on Effect from Cladding Remedial Works? 

Many buildings have dangerous cladding that must be removed, a significant project to be completed over the next few years to ensure the safety of residents. However, because materials are used for remedial work on buildings that require cladding removal/replacement (admittedly, these are the priority), the amount of supplies contractors have for your home is reduced. 

Statistics

In the year to the end of July 2021, the cost of materials for new housing rose by 19.8%. 

Over the same period, repair and maintenance costs increased by 23%.

Materials shortages have harmed 88% of tradespeople’s businesses in the previous three months. 

Source: Office for National Statistics

These shortages cause delays, harming contractors, who will have to pay a premium to ensure on-time delivery. Unfortunately, this raises consumer costs because contractors must account for these losses.

Book a Property Valuation