Cost of Home Improvement Set to Rise as Travis Perkins Announces Price Increases for Building Materials

Homeowners are set to face higher costs for renovations as Travis Perkins, the country’s largest builders merchant, signals a significant increase in prices for key construction materials beginning in January. The company, which serves nearly 300,000 builders and tradespeople nationwide, has informed customers to expect price hikes across a range of products that will outpace the current rate of inflation.

Blocks will become up to 9 percent more expensive, while bricks, landscaping, and drainage materials will see rises of up to 8 percent. Roofing, plasterboard, and cladding products are due to increase by up to 7 percent. These changes arrive against the backdrop of overall UK inflation slowing to 3.6 percent in October.

Damian Walters, chief executive of the British Institute of Fitted Interiors Specialists, stated that the impact will be evident throughout the industry, with price rises eventually being borne by consumers. Higher costs, he noted, are forcing manufacturers, merchants, and builders to pass these increases down the supply chain.

Professor Noble Francis, economics director at the Construction Products Association, explained that a combination of rising labour costs and elevated energy prices are compounding pressures across the industry. Labour-intensive merchants and distributors are particularly affected, while energy costs remain a substantial overhead for manufacturers producing bricks, blocks, and steel.

Despite households holding the necessary financing, confidence remains subdued due to economic uncertainty and the lingering effects of the cost-of-living crisis. Lucian Cook, head of residential research at Savills, highlighted that higher interest rates continue to influence household decisions about taking on additional debt for renovation projects.

Several interiors firms have entered administration in recent years, with some struggling to achieve growth or price competitively in a challenging market. Travis Perkins, listed on the FTSE 250, has reported a 2.1 percent decline in sales at its merchanting business over the past year, and its shares have dropped by 15 percent this year, underscoring the sector’s current difficulties.