G&T's Main Contractor Survey report for October 2021 provides an overview of some of the key trends and themes generated from the responses given to our recent Main Contractor survey.
Main Contractors were asked questions on:
- Financials and secured workload
- Workload expectations
- Labour availability and cost movements
- Material price forecasts and expectations for lead times
- Market tendering conditions and tender price inflation forecasts
- Which factors are likely to have the biggest impact on their businesses over the next year
- What market pressures are currently driving construction prices
- Expected changes to business model/strategy over the coming months
While it is clear that shortages and supply chain issues continue to put a real strain on costs, some of these market pressures are expected to ease in 2022. Contractors certainly anticipate that the rapid inflationary growth rate for material prices seen in 2021 will recede, but caution that there is no obvious quick-fix solution for current labour shortages which will continue to drive inflation.