General

Question 1

What affect has the conflict in Ukraine had on the UK Property & Construction industry?

Answer 1

• Due to the high dependency that Europe has on Russian gas and oil, the conflict in Ukraine has resulted in significant energy price increases.
  o The cost of production of building products that require high energy input have also increased including: Steel, Bricks, Plastics and Ceramics.
• In summary the conflict in Ukraine has intensified an already turbulent market that was previously effected by Brexit, Covid-19, Industrial strike action, rising energy and fuel costs and inflationary pressures.
• Impacts may also include delay and disruption caused by materials and goods shortages affecting deliveries, cost overruns and possible arguments around the triggering of suspension or even termination rights.