The company is warning that supply chain pressures are tightening as the bounce-back economy fuels demand for skilled labour and building materials.
Its latest analysis of
payroll data shows average weekly earnings of £878 during April, an increase of 19.6% compared to April 2020. The picture varies regionally, from a 29% increase in the southwest to less than 5% in London. (See table below.)
Ian Anfield, managing director of Hudson Contract, said: “The housing market is in a state of frenzy with mortgage lending rising to record levels, homeowners are spending cash piles built up during lockdowns on renovation and remodelling work and the government is proceeding with mega-projects and shovel-ready schemes to ‘build back better’.
“The UK economy is roaring so the challenge now is for the construction industry to keep pace whilst dealing with spikes in demand for skilled labour and materials.