Timber prices remain high for homebuilders and roofers UK
Timber prices remain high
Since the first lockdown in March 2020 the price of timber in the UK has rocketed by as much as 50%.
Timber is a global commodity and the imbalance that the supply issue has caused is still causing major concerns with elevated prices for the remaining half of the year. Indeed, timber manufacturers have been hit by an almost unprecedented demand for timber in the housing market and capacity was reduced dramatically in 2020.
Even though production increased in 2021 demand has outstripped supply and this has left a very difficult situation for builders and roofers who are forced to pay more for materials which then is passed down the line to the customer.
Paul Chapman at Resin Library stated that ‘we’ve observed that prices have increased almost 3 times against what they were 8 months ago and this has impacted the materials costs for our fibreglass roofing kits.’
Likewise, Steve Bowen, managing director of Strandek, a flat roofing company, has noticed that timber – and elevated resin costs – have been passed onto their roofing systems. Indeed, this has impacted felt, GRP and other flat roofing systems.
The recent fires in North America are also believed to be compounding the problem.
Whilst lumber futures, an indicator of timber prices, have fallen recently, the costs have not been passed on to customers like homebuilders. It remains to be seen when these cost reductions will be realized.
