Building costs rocket with brick and timber prices soaring _ this is money


In a statement last night, a spokesman for the store said it was ‘exploring ways to mitigate’ the drop in the pound and that the resulting cost price inflation was ‘industry-wide’.

In one such communication, seen by this newspaper, tradesmen were sent an extensive list of price rises on raw materials and basic construction products that they face between now and the end of April.

It reveals that major suppliers are raising the price of key products across the board, with some loft insulation material up 12 per cent, some plasterboard up 10 per cent, and some MDF and chipboard up 7 per cent – far ahead of the headline annual inflation rate.

‘We are exploring ways to mitigate this with our suppliers, including switching to UK-sourced products.

Usd inr exchange rate history We remain confident we will continue to offer great value for customers.’

However, finding alternative sources of timber to traditional exporters such as Scandinavia is likely to be tricky in the short term and even in the medium term, particularly at good prices.

Meanwhile, one of Britain’s largest brick suppliers, Ibstock, said it was also raising prices on its ranges, with a ‘low-to-mid-single’ digit increase across its bricks this year.

A spokesman for Ibstock said the rise was being driven in part by energy price rises hitting its production costs. Aud usd exchange rate history It said the increased cost of firing its kilns was due in part to the pound’s fall.

The revelation about the rise in the cost of building materials follows fears of price increases of up to 5 per cent on a vast swathe of products, from clothing to food, as Britain digests the consequences of the decision to split from the EU.

About a quarter of building materials sold in the UK are imported. Stock market trading hours christmas eve Many others are manufactured using imported raw materials or, like brick-making, are affected by rising energy costs.

Nearly one in eight comes from outside the UK, and the trade body said that the dearth of skilled builders could be exacerbated by the ‘hard’ Brexit proposed by Theresa May’s Government.

Chief executive Brian Berry said: ‘The Government needs to be taking note of the worsening construction skills shortage now we know the UK will be negotiating a hard Brexit.

‘The Prime Minister must ensure that the immigration system which replaces the free movement of people serves key sectors such as construction and house building.

‘The clear possibility that the economy will slow appreciably over the coming months – despite its current resilience – and a lacklustre housing market are a concern.

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