NEW research has revealed there has been a ‘rebound’ in repair, maintenance, and improvement (RMI) building work for the first three months of 2023.
Reported workloads and enquiries are up by 12% and 14% respectively compared to Q4 2022 according to the latest State of Trade Survey from the Federation of Master Builders (FMB).
Brian Berry, chief executive of the FMB, described the rebound in domestic building work as an encouraging sign that parts of the industry are bouncing back.
“It’s a positive sign for the overall economy that homeowners are continuing to invest in their homes,” he said. “Despite the good news for domestic building work, it is very concerning that housebuilding is still in negative figures, despite a slight increase in reported workloads.”
The survey also revealed the impact of inflation on SME companies, with 75% of respondents reporting they have increased the prices they charge for work.
Berry added, “We are far from having certainty in the building industry but at least there are some signs that we are starting to move in the right direction.”
The survey found that 87% of FMB members have reported an increase in material costs. At least one in three respondents reported they are struggling to recruit carpenters/joiners, bricklayers and general labourers.
Members have reported an overall net decrease in employment levels in Q1 2023 (-3%), while 45% said profits were lower than expected this quarter.
