Snapshot – Material Price Increases January to June 2021
21
JULY 2021
We have tracked material price increases for Q1 – Q2 2021, finding increases across the board.
From early Q1 2021, severe shortages of essential building materials have led to abnormally high material price increases compacted by Brexit, Covid-19 restrictions, the Suez Canal blockage, extreme weather events in the US, and varying post-Covid recovery plans abroad.
While it is difficult to predict when material costs will return to ‘normal’, it is expected to be 6 months in the short term, and 12 months in the long term, before supply meets demand and there is more material price certainty.
Also read: Brexit – and the knock on effect to the Irish Construction Industry