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The shortage of building materials in the UK has been felt in Yorkshire, where prices have skyrocketed for a wide range of common building materials over the last few months, according to Gent Visick’s (GV) building consultancy division.
The commercial property consultancy’s figures show that steel prices in the region have increased by an average of 20 per cent, and timber by 30 per cent, according to the Yorkshire Post.
Gavin Ritchie, director of GV’s building consultancy division, said: “The current levels of demand for construction materials in the UK is having a big impact in Yorkshire. We’re currently seeing major shortages of common products including cold rolled steel, cement, chipboard and cladding.”
He explained that part of the problem is that many construction projects all started at the same time, once the UK’s lockdown restrictions were eased, as well as a high number of homeowners undertaking home improvement projects, which have all created a surge in demand, as well as an increase in shipping costs due to the pandemic.
Ritchie added that the price increases and delays in securing materials have now impacted the timings of projects, as well as contractors struggling to fix tender prices due to the daily fluctuations of the prices of materials.
“This also means actual build costs have frequently increased dramatically from when estimates and initial appraisals were carried out, which can often be 12 months before work starts.”
He added that contractors, depending on the wording of contracts, are having to take the hit for any price increases and delays, placing them under additional financial pressure at an already difficult time for many.
“It’s a challenging situation, which is likely to continue until supply catches up with demand,” he said.
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