Yorkshire homeowners cancel renovations due to rising costs
New research has revealed the shocking reality of increasing the costs of raw materials in the UK.
Research carried out by lighting supplier Ultra LEDs discovered the cost of these materials is expected to have more than trebled in 2022, affecting not only tradespeople, but homeowners too.
This research found that one in ten homeowners in Yorkshire have had to cancel home renovations while 74% of tradespeople said they have been forced to raise their prices in the past quarter.
In addition, of those willing to go ahead with their home renovations, a third disclosed that the materials price increase has delayed their project, while over a quarter confessed to increasing their budget in order to have the renovations completed.
Worryingly, one in five (20%) also struggle to find a tradesperson and 6% of Yorkshire homeowners have had to compromise on the quality of their materials in order to stay within budget.
Matthew Shaw, head of sales at Ultra LEDs, said: “These insights have highlighted how this exponential growth is putting undue pressure on tradespeople and it is UK homeowners who will undoubtedly be facing higher bills for renovation or building work.”