rising cost of raw materials is the biggest challenge for electricians and homeowners in 2022
Posted by: electime 9th August 2022
-
The cost of raw materials in the UK is expected to have more than trebled in 2022
-
Over a quarter (28 per cent) of UK electricians have raised their prices
-
One in four homeowners have to delay their renovation projects and have had to increase their budget
New research has revealed the shocking reality of rising costs of raw materials on electricians and homeowners across the UK.
Research carried out by lighting supplier, Ultra LEDs, has discovered the cost of these materials is expected to have more than trebled in 2022. These significant supply chain issues will not only affect electrical contractors, but homeowners too.
Over a quarter (28 per cent) of UK electricians stated that they’ve been forced to raise their prices since the start of 2022, while four in five (80 per cent) have increased their quotes in the last year.
As a result, a survey of 500 UK homeowners commissioned by UltraLEDs revealed that 1 in 10 (11 per cent) have had to cancel home renovations as they’ve exceeded their budget due to the cost of living crisis. Big renovation jobs could be anything from rewiring following a new kitchen installation to adding an EV charging point or outside light.
The top 10 areas in the UK that are cancelling home renovations due to prices increases are:
-
Midlands (19 per cent)
-
Scotland (17 per cent)
-
North East (15 per cent)
-
North West (12 per cent)
-
London (11 per cent)
-
Wales (11 per cent)
-
Yorkshire (11 per cent)
-
South East (10 per cent)
-
South West (8 per cent)
-
East (7 per cent)
In addition, of those willing to go ahead with their home renovations, 27 per cent disclosed that the materials price increase has delayed projects. While 24 per cent confessed to increasing their budget in order to have these renovations completed.
Worryingly, over one in 10 (13 per cent) UK homeowners are also struggling to find an electrician and 7 per cent explained they had to compromise on quality in order to complete their renovations.
According to Electrician Course 4U, the electrical industry is one of the worst affected by the skills shortage. Apprenticeship schemes are failing to drive out enough candidates to keep up with growing demand, and older contractors are retiring. Both of which have resulted in a skills gap in the market.
This means that current electrical contractors are suffering from burnout due to increased demand, while homeowners will need to wait longer for jobs to be completed due to a lack of skilled workers.
Matthew Shaw, Head of Sales at Ultra LEDs commented: “Price inflation has also seen consumer prices rise at the fastest pace in 30 years in 2022 as fuel, the housing market and household energy costs have soared.”
“These insights have highlighted how this exponential growth is putting undue pressure on electricians. It’s UK homeowners who will undoubtedly be facing higher bills for renovation or building work as electricians look to put their prices up.”
“Customers are now looking to make savings in certain areas by using things like LED strip lights, which are cheaper to run and last longer. Those who may have had to cancel their renovation are redirecting that capital in smaller projects such as gardens and DIY projects. We’re seeing a large increase in demand for outdoor LED festoon lights as these offer a much greener, energy-efficient money-saving alternative to traditional lighting solutions.”
