Price rise in building supplies threatens new housing
Top firm McMahons Builders Providers told developers in a letter last week that price hikes on building materials will ensue in the new year
The cost of building homes will rise next month and lead to more residential projects becoming unviable, senior figures in the construction sector have warned.
McMahons Builders Providers, a leading construction supplier, told developers last week that there will be significant increases of between 3 and 15 per cent on key building materials from the start of 2021.
The firm also warned that a no-deal Brexit scenario would add extra pressure to prices.
In a letter seen by the Business Post, Gareth Whelan, group purchasing manager at McMahons, wrote that its own key suppliers have informed the company of impending price increases from January 1, 2021.