Latest UK material construction cost trends- November 2022
BuildPartner is aimed at making building prices throughout the UK and beyond as transparent as possible. With this aim we have regularly reported on rising material costs across the UK, the causes of volatility in the market and also how to minimize the variability and risk.
As prices across the UK have become increasingly variable due to a variety of factors, we will now be publishing this new regular report depicting the latest changes in construction material prices across the UK. This is aimed at helping builders, architects and their clients gain an understanding of how overall material / construction costs are tracking across the UK and what they should be looking out for.
1. Overall, construction material costs are starting to ease. With the average costs rising slightly by 0.7% from August to September, for all types of work. This continues the general trend of a slowdown in the overall material price inflation rate since June 2022.
2. However, material costs are still above their long term average. Overall construction material costs have increased by 16.7% from this time last year (September 2021).
3. Insulation materials (thermal or acoustic) has risen the fastest out of all materials by 13% from August 2022 to September 2022.
4. Timber and Joinery materials are on a general decline in price / generally flat, since peaking in price in the early part of 2022.
5. Cement based products have continued their steady increase in price, rising 2% per month on average.
6. Since March 2022, Gravel, sand, clays and kaolin including Aggregates levy (UK tax on the commercial exploitation of rock, sand and gravel) have increased by nearly 60% in price. However it has recently in the last few months started to stabilise.
7. Metal products increased by 1% in September. Continuing their steady monthly increase in price. Meanwhile fabricated structural steel has continued it’s decrease in price, following it’s peak in May this year.
P.S Did you know Buildpartner has thousands of tasks and materials which we regularly update in responrse to changing market environments?
You can use these live labour and material rates in your area to create budgets and quotes for your projects.
Try it out by creating a new project here.