The Effects of the Pandemic and Brexit on Homeowners
We have all felt the effects of the pandemic that is for sure! However, homeowners have also felt the knock-on effects of the pandemic as well as Brexit on property renovations.
For several reasons, the first lockdown led to a huge increase in home renovation projects. Being stuck at home meant some homeowners found a new need for a home working solution, others simply wanted a more comfortable living environment, and many found that they had more money due to travel restrictions and homeworking which enabled them to get on with jobs that had been put off previously.
A great number of homeowners took advantage of the stamp duty holiday and decided to move or purchase additional homes which led to a boom in sales of properties. Many new properties required renovation works to accommodate the new owners’ requirements.
This increase in demand for renovation work for homeowner’s existing or new properties, not only caused the depletion of existing building materials, but it also led to a lack of labour availability. As if that wasn’t enough to contend with, a combination of Brexit, the subsequent HGV driver shortage & fuel crisis in addition to Covid outbreaks in Chinese ports caused long delays in the delivery of supplies. This has meant that depleted materials caused by the first lockdown are yet to be replenished. Now rocketing energy costs have caused further problems for imports, which in turn have pushed up the manufacturing costs, particularly for aluminium and steel.
These problems have caused price rises for building works which are likely to continue until demand reduces. To give you some examples; specialist manpower has increased in price by 10%, the cost of bricks has increased by 45%, concrete has increased by 35% and machinery, diesel and skip hire have also all gone up in price.
Many homeowners are experiencing lengthy delays in works already started due to the supply issues and others are having to wait a considerable length of time before their projects can even begin. A knock-on effect of this is that many property sales are falling through as buyers are unwilling or unable to wait.
We, at Jigsaw will always put our customer’s needs first. Our team can do everything from calculations and measurements through to preparing the foundation and putting the roof on. Whether you need renovation, refurbishment or construction, our outstanding reputation comes from our exceptional customer support, reliable outcomes and perfect finishes. Whilst we may not be able to control supply issues, we will always provide clear communication if we do encounter any.
Source:
