Planning for the next Recession

Now is the time to think ahead and prepare for every eventuality. With the potential economic downturn on the horizon it’s a judicious time to stay focused on what we can control. It’s an achievable goal to develop a strategy for minimising the negative effects of an industry-wide slow down. 

How is the building industry being affected by the current rise in inflation?

The building industry is experiencing high inflation in material costs driven by price surges in energy costs and key construction materials. Shortages in building products and manpower has also contributed to already high material prices. This makes predicting tender prices very challenging. It looks to continue this way until central banks will react to manage interest rates to rein in inflation. Method Studio is combating this uncertainty by constantly keeping up to date with contractors availability, their pricing and timeframes. When requesting indicative prices from Contractors they keep us up to date with their pricing forecast, sometimes they cannot commit to locking in current rates for long periods due to the constant fluctuation, but they endeavour to work with us to give our clients the best possible prices and information. 

It is predicted that prices will remain high until the UK and European energy markets are retooled to be less dependent on Russian gas and oil. Although Method Studio Architects cannot control Russian gas and oil we can help you manage exceptions, keep you up to date with the latest information and design to your budget.

How can you prepare for this?

Our Method Studio team is here to help! It is important to manage your budget and manage expectations. We are able to use our very latest tender return prices to guide your build. With ever changing material prices and contractor availability we are here to keep communicating with contractors for timeframes, ensure contracts in place are held and help you get the most accurate price for your build. We are able to help connect you with the best consultants to keep you informed in our Stage Two process, and set up contracts in our Stage Four process. We can help control costs and work with your priorities to get the most out of your budget. For some further reading please see this LINK.