Materials shortage biggest risk to construction recovery – Wakemans

PROPERTY and construction consultancy Wakemans has warned that severe material shortages could slow down the pace of the recover in the construction industry.

The firm, which has its head office in Edgbaston, Birmingham, says the shortage is causing delays to projects, especially in the fast improving housing sector.

Wakemans director Adrian Aston said: “When the recession has been as long and hard as the one we have just experienced, it takes time for the industry to have the necessary resources in place to fuel the recovery.

“Many manufacturers laid off staff and reduced production in the downturn and are now unable to meet the needs of the burgeoning housing sector.

“Essentials such as bricks are now on lead time of up to 18 weeks, four times as much as would normally be expected.

“Whilst other materials, such as steel, are easier to come by, the nature of the building process is such that delays are still being experienced to the overall project.

“In addition to the delays, shortages are causing prices to rise for materials and labour. Rates charged by sub-contractors have been rising all summer and prices paid for construction materials are also increasing sharply.”