Housebuilders grappling with rising building costs, study reveals

A PlanRadar study has revealed that 78% of housebuilders are grappling with rising building costs.

The report, taken from PlanRadar’s recent eBook Global Housebuilders’ Survey 2024, surveyed 669 companies from across 17 countries, including the UK, to provide a snapshot of global housebuilding sentiment.

Labour shortages are the top challenge and significantly contribute to rising costs, with 65% facing wage increases and more than 75% citing project delays due to labour shortages. According to 65% of respondents, investing in technology would enhance profitability through increased efficiency. However, the adoption of such technological solutions remains slow.

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