LONDON, February 29, 2012 — Soft demand in the struggling U.K. construction sector helped drive down the cost of many common building materials last year, according to a new report from Xactware. Xactware’s 2011 Property Report for the United Kingdom shows costs for copper, lead, and aluminium rising at the beginning of the year, then falling for most of 2011. Rates for floor coverings and plasterboard also declined.
“Most of the price reductions reported in Xactware’s Property Report can be attributed to the continuing downturn in the European market and the U.K. building sector,” said Vernon Davenport, Xactware’s director of European Operations. “Construction activity has tapered off significantly over the past several years, and this has lowered demand for many building products.”
Xactware compiles year-end reports to give builders and insurance professionals insight on major trends in the property industry. Xactware’s 2011 Property Report for the United Kingdom provides information on rate changes that occurred in nine regions covering nearly every U.K post code. To compile the report, Xactware’s London-based pricing experts collected, collated, and analysed more than 192,000 data points.
The report contains the following:
“Given the turbulent conditions in the market, reliable information is more important than ever before,” Davenport said. “Property professionals who read the 2011 Property Report for the United Kingdom will find it’s a valuable resource that gives a clear view of major trends in the industry.”
Xactware Solutions (Xactware) is a Verisk Analytics (Nasdaq:VRSK) company specialising in the property insurance, refurbishment, and restoration industries. Xactware’s applications include buildings and contents estimating programs for PCs and tablet PCs, as well as powerful online systems for reinstatement cost calculations, estimate tracking, and data trending in real time.
For more information about Xactware’s products and services, call Xactware at 020 7680 4970 or visit www.xactware.co.uk.
Xactware Director of European Operations
+44 (0)207 680 4981