18-01-2008
Credit Squeeze hits building work
The number of client enquiries for all types of building work has fallen to its lowest level since 2005, with 40% of builders reporting a drop in enquiries, warns the Federation of Master Builders (FMB) in its latest State of Trade Survey for the last quarter of 2007.
Brain Berry, Director of External Affairs said, “Our latest survey of work activity within the building sector is further evidence of a slowdown in the economy and a signal that people are beginning to feel the pinch as mortgage and energy bills increase. What is concerning is that with the exception of Scotland the drop off in enquiries is consistent right across the UK and for all types of building work including housing and non-residential buildings as well as for both private and public sector clients. “
The FMB also reveals that allied to the fall off in client enquiries is the fall in the proportion of builders reporting difficulty recruiting employees or hiring sub-contractors. However, certain trades are still in short supply in particular plumbers, carpenters and joiners.
Berry continued, “There is some good news for both builders and clients in these uncertain economic times. FMB members are reporting far fewer delays in the supply of building materials and products, which should help speed up the building process.”