The majority of builders have had to delay or cancel jobs because of a lack of skills or materials.

A survey by from the Federation of Master Builders (FMB) reveals a shocking 89% of local builders reported delays to jobs due to a lack of materials or skilled tradespeople.

Adding to the pressure facing the industry, 97% of builders have reported rocketing material prices and expect this to continue into the last quarter of 2021, with 78% passing this increased cost on to the consumer.

Yesterday, Punchline reported that cement prices are expected to rise sharply by around 16%. This comes on the back of months of supply chain issues pushing up the price of timber, bricks and other vital building materials.

Today, speculation about a possible interest rate rise as early as this week has led to major building firms - including Barratt, Berkeley, Persimmon and Taylor Wimpey - seeing their share prices fall.

Small and medium sized builders have been forced to hit pause on some jobs, in the face of increasing difficulty to hire tradespeople, such as general labourers and plasterers, with 42% and 37% respectively of builders telling the FMB they are struggling to get them to a job. Nearly half of FMB members are also facing pressure to find carpenters/joiners and bricklayers.

Brian Berry, Chief Executive of the FMB, said: "The FMB State of Trade Survey shows a damning situation for the building industry, with 89% of builders facing delays and some cancelling work altogether, due to a lack of materials or skills."

"Our data shows the combination of long delays and rising prices mean consumers are also starting to feal the heat. Changing quotes, delays to jobs, and price hikes may lead to some homeowners being pulled in by unscrupulous builders hoping to make a quick buck. A good builder is a busy builder, and it is important for consumers to be patient when selecting a builder."

Punchline says: "This a worrying trend - not only are many companies working directly in the building sector but the knock-on effect for suppliers is likely to be considerable."