Construction materials prices for All Work decreased by 0.1% in the 12 months to December 2024, according to the latest figures published by the Department for Business and Trade and BCIS.
Materials prices in New Housing registered a 1.3% increase, Repair and Maintenance was up by 1.0% and Other New Work decreased by 1.4% in the same period.
Up to October 2024, the All Work index had seen 17 consecutive months of decreasing annual movement. There was no movement in the 12 months to November 2024.
Despite an overall cooling in materials cost inflation, compared to where prices have been in the last couple of years, there remains divergent movement for different materials, and therefore for different trades.
The greatest annual increase was seen in other builders’ ironmongery (9.5%), with a significant monthly increase of 8.4%. The other greatest annual prices increases were in precast concrete and aqueous paint. Fabricated structural steel remained among the materials showing the greatest price decreases compared with December 2023.
As well as other builders’ ironmongery, the most significant price differences on a monthly basis were seen in gravel, sand, clays and kaolin – incl Aggregate Levy (-1.9%), builders woodwork (-1.8%) and steel concrete rebar (-1.1%).
DBT’s report also showed concrete block deliveries (seasonally adjusted) were up by 27.4% in the year to December 2024 but down by 2.4% on a monthly basis.
Brick deliveries (seasonally adjusted) increased by 9.1% in the 12 months to December 2024 and decreased by 0.2% compared with November 2024. Stocks of all types of bricks at the end of December stood at 480.2 million, which was 14.3% less than at the end of December 2023 (560.6 million).
By comparison with pre-pandemic activity levels, seasonally adjusted brick deliveries in December 2024 were 27.6% lower than in December 2019, and stocks were 13.1% higher.
Looking at 2024 as a whole, brick deliveries (seasonally adjusted) were up 2.8% on 2023, total production was down 18%, and stocks were 14.3% lower.
Dr David Crosthwaite, Chief Economist at BCIS, said: ”Materials price increases continue to flatline, with a few exceptions, and this is largely a result of stagnant demand. However, brick and block deliveries have picked up, which is a positive sign of recovery, and stock levels remain high in anticipation of any increase in demand through 2025.”
