UK Building Material Prices: The State of the Nation Results- Q1 2024

UK Building Material Prices: The State of the Nation Results- Q1 2024

Comparing Q4 2023 to Q1 2024, no significant change in building material prices has been reported. Insight from the recent AMA Research’s State of The Nation Report highlights that although optimism across the industry has increased since Q4, many respondents are still facing the reality of rising costs.

State of the Nation results by AMA Research

The above insight is gathered from the State Of The Nation Report produced by AMA Research, where hundreds of industry professionals are surveyed on a quarterly basis to create an accurate representation of today’s construction landscape. This data is then compiled to provide a free report, supporting your next strategic decisions by providing access to the latest high-level insight into the UK Built Environment.

Pricing & Sourcing Building Materials in Q4 2023

The sourcing of building materials remained difficult during Q4, however, this has improved since the previous quarter, with +9% finding it easier to source materials. Moreover, prices for both UK manufactured and imported construction materials continued to rise - with 58% for UK Manufactured materials and 63% for imported materials.

Respondents who recognised price increases from previous quarter data mainly operated within the London and South East regions.

Pricing & Sourcing Building Materials in Q1 2024

Altogether, the ability to access building materials across the sector has remained stable. However, positively we have seen a 2% decrease in respondents experiencing difficulties in sourcing compared to Q4.

58% of our respondents also outlined higher prices for UK manufactured materials, with an additional increase in pricing for imported products also at 63%. These trends align suitably with data from the previous report, indicating that prices continue to rise for many.

Constraints moving into Q2

Looking into Q2, the predicted straining factor towards the limitation of overall business output is the access to skilled labour. Respondents believe that creating a skilled and qualified workforce remains a key factor towards successful business performance.

Sarah Richardson-Clarke, Head of Consultancy, AMA Research expressed "although skills and materials shortages continue to pose industry challenges, it is good to see a return to a more optimistic outlook amongst respondents. However, the shortage of skilled labour reported by a significant proportion of our respondents is not easily fixed and looks likely to prevail."

To further your understanding, subscribe to State of The Nation to recieve your reports and gain access to all future editions.

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