As the building industry cautiously continues to trade through the second lockdown of 2020, Estimators Online has been tracking price changes declared by suppliers of building materials.
In the August commentary from The Department for Business, Energy, and Industrial Strategy, building material prices showed a 5% average increase for pipes and fittings, electric heating apparatus, and insulating materials, compared to the same period in 2019. In contrast, materials such as concrete reinforcing bars, imported sawn or plain wood, and metal sanitaryware saw an average decrease of -7.5%.
What does this mean for builders?
If you are still sending out quotes to customers with historic prices from your profile, you could be looking at discrepancies in your costs.
Estimators Online produce material prices in an estimate using one of two methods:
- We use our 'Builders Buying Price Index' which is calculated as an average and updated regularly based on the local market price of what most builders who buy in moderate volume pay a supplier.
- A builder inputs their own prices in their profile which are then used for all future estimates (although all material prices can be amended individually, in completed estimates)
Ask yourself: Have you updated your prices this month? This quarter? This year? If not, act now and get the MOST out of our outstanding service.
If you require assistance, please do not hesitate to contact the office on 0161 286 8601 or firstname.lastname@example.org and a member of our team will organise an online demonstration for you.