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 13%) is lower than what the press has been shouting about. Indeed, the movement is closer to the rate of inflation or the increases in food prices we have all been experiencing.
- Prices for some of the most expensive items, imported plywood and fabricated structural steel, frequently move up and down. We recommend you regularly check with your suppliers for the latest prices so you can pass that on to your client and maintain profit margins.
- Some materials, such as screws and ready-mixed concrete, have surprisingly increased far less than the rate of inflation in the same period. We don’t really understand why this is!
- In the final quarters of 2022, the price of materials that experienced the highest movements over the past two years actually saw decreases quarter on quarter (for example, fabricated structural steel or imported plywood).
- As expected, fabricated structural steel is the material with the largest price increase over 2 years, followed by imported plywood and then taps & valves (sanitary). These have been hit by a myriad of factors such as Brexit, the pandemic and the war in Ukraine.
- Aggregates is the material with the largest price increase over the last year, followed by non-aqueous paint, then ready-mixed concrete.
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