Wates boss warns on materials as economists say price hikes threaten fragile margins

By Dave Rogers2021-07-07T05:00:00

Latest data says subcontractors jacking up prices to meet extra costs with some warning industry heading for bubble-burst

The boss of Wates’ construction arm has admitted that bigger firms are being dragged into the materials shortages crisis that has been plagued smaller firms for months with worries growing that summer’s traditional building boom will stretch supplies to breaking point.

Yesterday, the latest data from the bellwether IHS Markit/CIPS monthly output survey said the index had reached a 24 year high fuelled by an ongoing housebuilding boom and a recovering commercial sector.

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