How much will glazing cost in 2024?
There’s an unspoken wave of raised prices that are right around the corner in 2024. From the overall rising price of glass, uPVC resin, and steel, the knock-on effect it has on the rest of the economic landscape is that the majority of home renovation companies will have to raise prices of their own to maintain profits.
Glass Won’t This Cheap Forever
There has been a UK-wide government announcement that the energy-intensive industries have been given relief on their cost of electricity and as it stands this lasts until March. Meaning that come March 2024, we can expect those very same industries to increase their prices moving into that Month and as a result, the cost of glass is set to increase exponentially.
To add salt on the wound, starting February 2024, there will be an energy surcharge on glass. This means that per every kilo of glass purchased, manufacturers will be charged 17p per kilo. Adding on even more costs to the use of glass.
Meaning that it would be wise to expect window prices to increase in the summer of 2024. That being said, for homeowners with a list of renovations in the pipeline, we would recommend moving window installations to the forefront of your priorities before March of next year.
Labour Costs Are Set To Increase As Trade Skill Gaps Worsen
The cost of labour in any construction, be it in building or home renovation, is only set to increase continuously until 2027. According to the UK Trade Skills Index, over the next decade, the construction and trades industry needs over 937,000 recruits while the number of skilled EU workers is depleting as a result of Brexit. This is only projected to recover by 2027-2032 when the shift in focus will be set to the decarbonisation of homes to cut down emissions. More info here.
What this means for the homeowners looking to renovate their homes is that the cost of their installations will have a direct correlation to the skill gaps which is only seen to get worse over time until 2028.
Renovate Sooner Rather Than Later
These are just a few of the many factors that indicate a rising trend in costs, which is why here at T&K, we’re suggesting that the best time to buy any sort of renovation that requires installation or construction is either now, or at the very least before March 2024.
There is hope!
Many companies that fabricate, install, and manufacture all understand that it’s a difficult time for everyone in the supply chain, including the customer. So, we’ve implemented more finance options within the last year than ever before. This is because we want to make a new installation available for everyone, regardless of budget or circumstance.
If you’re ready to make the jump
You start a free quoting process online with us and a member of staff will reach out to you, or speak to one of our in-house installation specialists about how we can make a renovation work for you through our Contact Us Page.
