Architects hit as material costs soar

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Half of suppliers are passing on price rises, says Federation of Master Builders

More than half of small building firms say that rising material prices are squeezing their margins, according to research from the  Federation of Master Builders

A survey of small and medium-sized firms from Federation of Master Builders (FMB) has found the same percentage have had to pass these price increases onto consumers. This has gone up from less than one quarter (22%) reporting the need to pass on costs in July 2017.

Brian Berry, chief executive of the FMB, said: “Material prices have rocketed over the past year. The reason for this could include the impact of the depreciation of sterling following the EU referendum still feeding through. High demand due to buoyant international markets could also be contributing to price increases.

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