Xactware Managing Director of the U.K.
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Xactware Property Report: Builder Wages Spike in 2014
Scarcity of skilled labour results in highest hourly rate increase in seven years
A shortage of skilled labour last year led to some of the largest increases in builder wages since 2007, as reported by Xactware’s 2014 Property Report for the United Kingdom.
Nationally, average hourly wages for builders jumped 11.2 per cent by the end of 2014. All regions in the United Kingdom and most trades reported wage increases. Wages for scaffolders rose most with a 30.3 percent increase followed by roofers with wages up 22.9 per cent. High numbers of skilled workers left the industry during the recent economic downturn, leaving a shortage as construction activity picked up.
Xactware’s property report provides readers with an in-depth overview of important trends in the property industry during 2014. In addition to details on shifts in labour costs, the report offers analysis of property claims, raw and retail metals, internal finishes, timber, and waste disposal trends. The reports’ findings are based on claims data analysed by Xactware’s claims assignment, management, and analytics network, XactAnalysis®, and research conducted by Xactware’s London-based Pricing Data Services team.
Download Xactware’s 2014 Property Report for the United Kingdom today.