Rocketing costs and spiralling labour shortages are destroying Britain’s home renovation boom and causing chaos for homeowners. Crippled construction supply chains in the wake of the pandemic, Brexit, and the energy crisis are pushing home buyers to pull out of sales and negotiate house price discounts in response to hugely inflated wait times and charges. Official data shows that construction wage inflation in the three months to July was 11pc. For building materials, the jump was 15pc. Homeowners hoping to renovate have become hamstrung. Paula Stewart, 40, started renovating her semi-detached house in Liverpool at the start of July. “It has just been an utter catastrophe. Supplies have been delayed so many times that my tradesman have walked off site. I have had to spend an extra £3,000 to £5,000 on labour costs,” she said.
Telegraph 12th Oct 2021 read more »