No time to read? Here is a quick summary:
- Weaver have put together a table of the 10 most commonly used materials in home renovations: so you can keep your clients updated with recent trends in price movements for some of the materials used on their home project.
- Check out Weaver’s insights: we uncover some surprising trends in material prices – it’s not all bad news!
Weaver’s top insights
- The average price increase for the past year (at 11%) is lower than what the press has been shouting about. Indeed, the movement is closer to the average rate of inflation across all sectors.
- Some materials, such as kitchen furniture and taps & valves, have now suddenly started to increase at a more rapid pace than in the previous 8 quarters, indicating that all materials are subject to inflation at some point in time.
- Screws is the material with the largest price increase over 2 years, followed by aggregates and ready-mixed concrete. These have been hit by a myriad of factors from Brexit imports, pandemic-driven supply issues and manufacturing during the war in Ukraine.
- Prices for some of the most popular items in home renovations, imported plywood and fabricated structural steel, are seeing sharp reductions in pricing to levels similar to 2 years ago, indicating overproduction. We recommend you regularly check with your suppliers for the latest prices, and apply these to your work.