No Supplies No Houses Big Problem!
Building materials have run desperately short in the UK, leaving DIY projects in doubt and building companies under significant pressure. Timber increasing up to 377% in some regions alone.
The BBC reports “The Federation of Master Builders said that some building firms may have to delay projects and others could be forced to close as a result. “Small, local builders are being hit hardest by material shortages and price rises,” said chief executive Brian Berry. “We can’t build our way to recovery from the pandemic if we don’t have the materials.”
Had the UK adopted Modern Methods of Construction to help towards solving our housing crisis decades ago we wouldn’t have been in such a stew. The USA are paying up to 200 euro more per m3 for timber our sources tell us whilst China are hoovering up as much timber as they can buy in addition to their own forestry leaving the UK to fight amongst the scraps. Of course things will balance out eventually but many sight this problem lasting at least another 18-24 months possibly a lot more.
In addition the BBC reports “the cost of shipping a 40ft container from Asia to Northern Europe soared from $1,500 (£1,061) in summer 2020 to more than $8,300 (£5,873) by May 2021”
Russia now set to ban the export of logs is adding further potential restrictions and tariffs meanwhile. Brexit has also affected the UK’s timber supply as 80% of softwood comes from Europe combined with Steel increasing by 3 times and a shortage of cement.