When will build costs come down?
Have you been shocked by a recent build quote? Or is your build delayed because your builder can’t get the materials?
Turning that home extension or loft conversion into reality has become more expensive than people might have realised - particularly compared with projects completed before the pandemic hit.
Unfortunately, a nationwide shortage of building supplies is adding many thousands of extra pounds to the cost of refurbishments. Supplies of cement have been in short supply since late last year and although this is starting to ease, it has been particularly affected by the shortage of hauliers. Plaster and plaster board have also been affected.
Plus, unprecedented demand for home improvements has created a massive shortage of tradesmen and building supplies, a shortage worsened by Brexit, the pandemic and shipping problems.
The knock-on effect of this has caused building material prices to soar in the last six months – in particular timber and steel. And the shortage is expected to last through the rest of this year and well into the next one as well.
Prices are expected to remain high until summer 2022 and that’s because construction companies will need to improve stock levels before they can reduce prices for customers.
So, it doesn’t look like we’ll see a drop in material costs this year. We can only hope that as the world continues to recover, things will become easier and prices will start to reduce.
But, as with everything, once build costs start to fall, demand will go up AGAIN and architectural designers and architects, planning offices and engineers are likely to be inundated with homeowners wanting to get going on their home extension plans. So, you might want to make a start on your own plans now. That way, you’ll have everything you need (including planning permission and building regulations approval) to hit the ground running once you’ve secured a builder with a reasonable build quote.
Our design package fees are completely fixed so if you work with us, you’ll know what your design costs will be from the beginning - and there’s no danger of them creeping up! If you’re based in the East Midlands and you’d like to book in with our Nottingham team for a free, no obligation design consultation, please give us a call on 0115 874 8570 - or hit the button below.
If you’re not quite ready to get started, or you’re based elsewhere in the UK, please feel free to check out the rest of our Advice Centre - and connect with us on Instagram and Facebook for tips and inspiration.
Other useful articles
How to save money on your home extension
When and how to get a builder on board