12th July 2022

Specialist trade sector researchers Eureka! have published their Summer 2022 report ‘Uncertain Future? Trade Attitudes to Current Cost Pressures’.

Throughout the course of regular research, Eureka! regularly talk to a range of tradespeople about market conditions and challenges and have undertaken a bespoke trade survey to cover the most pertinent and timely issues facing those in the sector. The summer 2022 Report is the result of 267 online surveys, completed by tradespeople from across all regions of the UK, and provides an insight into their views on issues such as material cost inflation, surging fuel prices and the potential impact these market conditions may have on order books.

Some of the key findings

Three quarters of tradespeople said that rising material costs are the biggest negative factor on their business.

The average cost of filling up a transit van has now breached the £150 mark. With prices on the forecourt due to rise even further, tradespeople said this is now their second biggest fear.

Over 8 in 10 installers are concerned about rising fuel prices – and 4 in 10 say they are extremely concerned about the impact on their business. The is a huge issue for trades operating both one van or a fleet.

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These factors are all resulting in a working environment where the trades are feeling less confident about the future. Just 46% were feeling confident during the pandemic (2020) and this has dropped further now to 39%. Consequentially, nervousness has increased from 26% to 37%.

Everyone is feeling the pinch. Over 3 in 4 tradespeople interviewed said they are now concerned about the general cost-of-living crisis on consumer spending in relation to demand for building work, new bathrooms, boilers, and kitchens.

The average tradesperson has jobs booked in for the next 3 months. Over a quarter of those interviewed had no work booked in beyond the next month.

The full report is available to view or download, free of charge, from the Eureka! website here.

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