Confidence on rise but builders face cost hike

Confidence among Scottish construction employers has recovered following a slump in the wake of the EU referendum result, a survey out today suggests.

The latest quarterly construction monitor found confidence recovered to +2 after falling to a three-year low of -19 in the wake of the June vote.

However, the survey, which takes into account the answers of hundreds of building companies across Scotland who are members of the Scottish Building Federation, found the majority of respondents thought the prospect of Brexit was driving up supply costs.

Bricks, timber and metal products were all reported to have a noticeable rise in costs since June, according to respondents.

Some 90 per cent of those surveyed expected these costs to continue to rise over the next 12 months, with many expressing concern that some suppliers may be using economic uncertainty to increase costs artificially.