Have you noticed prices going up? because we certainly have!
Unfortunately for us and our customers/clients soaring material costs and shortages of essentials have meant a large increase in current prices, and the worst part, they are still rising!
We have been looking into what is making the market rise so steeply....
Some stats for you:
'Timber has gone up more than 80% in the past six months, while copper and steel prices have jumped by 40%, according to Noble Francis, economics director at the Construction Products Association.'
We are lucky I suppose, good long standing relationships with our suppliers have meant we have priority on materials, however we have definitely been getting our orders in early.
So what are some of the reasons prices are rising so steeply?
Unprecedented demand - Construction industry projects have surged since lockdown began easing which has led to skyrocketing demand for already scarce materials.
Brexit effect - Brexit has also affected the UK's timber supply as 80% of softwood comes from Europe.
As steel exceeds global supply many steel manufacturers have stopped taking orders, as they are worried that panic buying will result in extremely low stock.
Also, its not just the main materials that are causing us concern its the smaller items for example, postcrete is currently gold dust, if you can procure it, get it!
I would say on a normal week we go through > 400 bags of postcrete and in the thick of the shortages one of our main suppliers were allowing each customer to pick up 3 bags per day, 3 bags!!! to put that into perspective that's enough to put in a post and a half on a fence line.
Is there any silver lining?
Research shows this year looks like it will not decline but a level off. Prices will remain high for another two or three years, then drop back to more normal levels (woohoo).
Recent Wallbank projects below!