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Trusted media brand of the Chartered Institute of Housing
Trusted media brand of the Chartered Institute of Housing
We have experienced significant additional inflationary pressures since the commencement of the war in Ukraine, which have built upon an already challenging level of pressure on supply chains and costs following Brexit and the covid-19 pandemic.
We have experienced delays in contractors being in a position to commit to contract costs, and in some cases contractors being unable to stand by previously agreed positions.
We expect that this will have a slowing effect of our planned starts for the next 12 month while the market adjusts and we understand the impact on viability. Where this causes starts to move beyond March 2023 there may be further complications as projects fall outside of the current GLA funding programme into the 2021-26 programme.