The construction industry has seen a substantial increase in the price of raw materials over the last 12 months, and in particular in the price of timber.
Timber based manufacturers have been hit hard by the price hikes. This has been fulled by an explosion in demand for timber in the housing market, the Covid-19 crisis, and a large upsurge in demand in the global DIY market causing timber prices to rise steeply.
As a result, the price of our wheelie bin storage units has increased by ~£10 per unit and this is effective from Sunday 14th March 2021.
Why are prices increasing?
There are a number of factors contributing to the price increases:
- All bin stores are made using imported Scandinavian redwood and whitewood timber. Increasing transport costs and the decreasing value of the sterling has resulted in the UK becoming a less attractive market to exporters.
- Timber is now being used in more ways than ever not just sheds and wheelie bin stores! For instance, its use for housing developments is on the rise, as it allows them to build new properties much more quickly, and at lower prices.
- Transportation costs are once again increasing, affecting both imports and domestic deliveries. This is especially affecting timber transportation, due to its bulk and weight.
These factors have lead to a national shortage, which in turn increases timber prices and unfortunately, this leaves us with no choice but to follow suit.
Is the increase permanent?
The UK government is aware of the current problems around timber and are discussing possible solutions. The bad news is that we’re not sure when any changes will be put in place or if it will lead to a price reduction.