01 Sep 2021

August 2021 Newsletter – Magnitude track recent materials price hikes

Magnitude track recent materials price hikes

It is clear that price hikes are continuing for materials. The simple fact is that when demand outstrips supply then prices rise.

There are, however, competing statistics regarding what those price hikes are and when they will come into effect. Keeping a finger on the pulse of the price rises can be tricky for the construction cost professional let alone anyone else at the moment.

For example, Building Magazine recently reported that “Material prices look set to increase by another 10% over the coming months in the latest sign that the severity of the widespread shortages is yet to peak”.

The questions to be asking (the answers of which are not made clear within this article) are:

  • what materials?
  • tanking membrane as well as timber?
  • what are the ‘coming months’? Does this mean September to December?
  • how will this affect my project?
  • do I just put a 10% contingency on my construction costs?

It’s clear that within the industry Quantity Surveyors are not merely best placed but uniquely placed to answer these questions.

Magnitude Quantity Surveyors ensure that their materials and labour rates closely track tendered rates and local builder’s merchants rates.

Project Complete

Magnitude were employed by Fever Developments as Employer’s Agent and Quantity Surveyors to assist with the development of 4 luxury new build homes in Bramhall, Stockport.

The project achieved Practical Completion in July and boasts luxury family living across 3 floors.

Magnitude welcome Jamie Neville to the Team

As we continue to grow to meet demand we’ve added a new member to the team. Jamie Neville joins having spent 18 months at MDA Associates and recently graduated from Liverpool John Moore’s University with a 1st Class Honours Degree.

Most impressively, Jamie was awarded the Vinci Prize for Best Level 4 Student in Quantity Surveying and the Mott Macdonald Prize for Best Level 5 Student in Quantity Surveying.

Jamie joins the Magnitude APC training programme and is on track to become a Chartered Quantity Surveyor by 2023.

“Following my interview, I was delighted to be offered a position at Magnitude Quantity Surveyors. The company’s portfolio of exciting, interesting and forward-thinking projects along with the opportunity to develop further with the APC training attracted me to the company.

Since joining, I have been exposed to a wide range of roles within multiple projects which has developed my experience massively in a short period. Following the successful completion of my sandwich degree, I am thrilled to have joined the Magnitude team and commence the next step of my career path.” — Jamie

As always we’re here for all your Quantity Surveying needs. Please reply directly to this email with any enquiries.

Magnitude Quantity Surveyors