August 2021
Featured in this insight: Construction, Financial services
93% of Federation of Master Builders members have experienced an increase in the cost of materials: A survey carried out by the Federation of Master Builders (FMB) of its members has found that the overwhelming majority (93%) have seen price hikes when it comes to materials needed for projects in the first quarter of 2021 (January–March). This is up from 82% in the last quarter of 2020,
The latest FMB State of Trade Survey which is carried out quarterly among FMB members also found that shortages of tradespeople is also a key issue for the industry, with 38% of builders finding it difficult to hire bricklayers – up from 22% in the last quarter of 2020. More than a third (34%) said that they are having trouble contracting carpenters for projects, which has risen from 23% in Q4 2020. Shortages were noted in almost all of the key trades found the survey, with members reporting difficulty hiring general labourers (up 10%) and plasterers (up 9%).
At the same time as the industry faces shortages, the survey revealed that enquiries have increased at their fastest rate in more than ten years, with 70% of members reporting an increase. More than half the members polled (55%) said they have also seen greater workloads in the first part of 2021, compared to the final quarter of 2020.
The research also found that more FMB members reported an increase in the price builders charge for work to be carried out in Q1 2021, compared to Q4 2020 (66% up from 29%). This is due to rising workloads as well as increases in wages and salaries and rising building costs. It was also revealed that in light of this, some respondents reported they are being undercut on price by rogue traders.
The survey was completed by 215 FMB members between 31 March and 21 April 2021.
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