Travis Perkins, the UK's largest builders' merchant, has warned customers of 'considerable' cost increases to raw materials amid an industry-wide shortage. The price of bagged cement will rise by 15%, chipboard by 10% and paint by 5% from Tuesday, the company announced.
Industry groups have warned that electrical components, timber and steel are also in short supply, blaming surging demand as lockdown eases and supply chain issues. Travis Perkins said it had seen demand from both DIY enthusiasts and large infrastructure projects such as HS2.
The Office for National Statistics projects a 7-8% rise in material prices this year, with some materials like timber expected to more than double. The Federation of Master Builders warned that small builders are being hit hardest, with some firms forced to delay projects or even close.
Roland Glancy, managing director of design service Peek Home, advised homeowners to postpone renovation projects until autumn to avoid supply disruptions. 'The last thing you want is to knock through a wall and then struggle to get hold of a bag of plaster,' he said.
