Key questions, at this time of the year, for those of us working in the roofing industry and for customers are, what is the outlook like for 2023 and will prices come down. Roofers Leeds will discuss these key points in this blog.
Construction output forecast to fall in 2023
At the time of writing, our roofers in Leeds, understand construction output looks set to fall in 2023 by around 4%.. Factors that are influencing this drop in output include the economic recession, political uncertainty and the tightening in government spending as outlined in the recent budget. Aspects, such as a continued fall in real wages and rising interest rates could further hamper activity in the construction industry next year.
Demand for private housing expected to decrease
Roofers Leeds appreciate that a likely fall in consumer spending will, almost certainly, negatively impact the demand in the private housing sector. This is the largest sector in the UK construction industry with an annual turnover of just under £40 billion. The forecast decease in consumer spending, will likely, hit the demand for new build private housing and also repair and maintenance, both of which the roofing industry is part of. Research conducted by our roofers in Leeds shows private housing output is expected to fall by approximately 10% in 2023. Output on repair and maintenance in private housing is forecast to fall by approximately 5% in 2022 and 10% in 2023.
Output for commercial projects likely to fall in 2023
Whilst output in 2022 has been flat this is forecast to decrease by approximately 5% in 2023. A rapid rise in construction costs and the uncertain economic climate could mean any planned projects are delayed for the next 12 months.
Roofing price outlook 2023
Despite the tempered outlook for the construction and roofing industry for 2023, the price of any roofing projects is likely to remain high. Roofers Leeds, understand one of the driving forces behind the continued elevation in prices is supply shortages, of roofing materials, since the Covid-19 pandemic. The rise in oil prices has made asphalt shingles more expensive. In addition, disposing of old roofing materials has become costlier.
Our roofers in Leeds, predict the cost of a roof replacement will be in the range of £3000-£7000 in 2023.
Contact Roofers Leeds today for professional roofing advice and your free competitive quote. For a full overview of services visit our homepage
HIGHTOP ROOFERS LEEDS
Leading roofers in Leeds since 2011
SITEMAP
HIGHTOP ROOFERS LEEDS - OPENING HOURS
Mon - Fri - 24 hrs
Sat - Sun - 8am-8pm