Derrick McFarland: Brexit gives us lots of challenges and different possibilities to consider. We need to be prepared for all eventualities.

Derrick McFarland, Managing Director Keystone Lintels is BMBI’s Expert for Steel Lintels

We didn’t anticipate the vote, but we need to be prepared for all eventualities. The immediate pricing of uncertainty in construction sector shares is worrying, and a possible general election later this year extends the uncertainty.

We’re confident there is a demand for housing, but not of when it will be delivered. If banks continue to lend and interest rates drop I expect people intent on moving this year will do. Small cuts in house prices may maintain demand outside London.

Raw material prices will increase. Steel has already jumped. While this was coming due to EU levies on Chinese and Russian imports, Brexit is raising prices further.

Brexit has given us lots of challenges and different possibilities to consider over the coming months before we can get back on an even keel.

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