Building Material Price Increases

Building material fees continue to rise. This is having a real impact on the building industry as it is difficult to provide accurate fixed prices. What is becoming apparent is that it is challenging to quote fixed prices even if adding in some allowance for price increases.

What is troublesome is whether the client can now afford the build with such hikes in prices. This is made more difficult if quoted a fixed price some months ago and now being told the build has gone up by 20 - 50%. An £80,000 build could now cost £110,000. In three months time this could go up as much as £130,000.  

Builders will find it difficult to honour past quoted fixed prices and the clients must be acceptable to such price rises – even if it means the build is no longer affordable and/or viable. The price increases are not the fault of the builder.

Any past or any current fixed price contracts will need to reassessed prior to the commencement of the work to safeguard the builder and client.

Wherever you are on the build journey, expect a turbulent time ahead. We at Cross Group Building will work along the client in an open and honest dialogue to smooth over any issues with building costs. We always aim to please and look for a win win outcome.