Labour shortages are casting a shadow over the UK property market
Housebuilders are convinced that a lack of labour is one of the biggest challenges facing the property market, according to a survey from Knight Frank released today.
The report found that as many as 73 per cent of respondents believed the cost and availability of labour will have a negative impact on future housing supply.
Read more: The UK's construction conundrum – can we trust the numbers?
Fifty-six per cent said they planned to recruit more skilled workers over the next three years.
Another major concern for housebuilders was access to land, as 57 per cent of those surveyed said they had not seen an increase in access to public sector land for development.
David Fenton, Knight Frank's UK head of regional land, said: "The sentiment among housebuilders in the UK remains positive, although many housebuilders have fulfilled their land requirements up to 2018 and are becoming increasingly selective on acquisition.
"The only dark cloud is build cost inflation and labour shortage, both of which are hampering delivery.
"However, help to buy continues to have a positive effect on sales rates."
The news comes as housebuilders Crest Nicholson and construction equipment providers Ashtead posted strong results despite the uncertainty surrounding the outcome of the upcoming EU referendum.
As the rest of the nation bites its nails over Brexit, it seems the construction sector faces a different set of challenges.