Timber Update May 2021
- The latest international construction cost report from Arcadis states that London is no longer ranked the ‘most expensive’ city in the world to locate a construction project. Geneva now holds the top spot, with London in second place and Copenhagen in third.
- With 60% of the UK having worked at home during lockdown and 26% reporting they plan to work at home occasionally or permanently after lockdown, the rising demand for home improvements has been analysed by Glenigan.
- The Glenigan article also lists which home improvement projects add the most value to a home in 2021. Top improvements include a self contained annex, loft conversions and a kitchen extension.
To read the full Glenigan article, click here.
- Global Wood Markets Info (GWMI) reported on the continued global surge in prices caused by ongoing demand and restricted supply. This was further reflected in the US Random Length Timber index which surpassed $1600 this month, up from $326 this time last year.
- GWMI also reported that log prices are increasing globally to record highs. China imports around 1 million m3 of European Spruce logs per month and the prices for these and New Zealand pine logs are both reported to be at their highest. At the same time, both sawlog and pulpwood prices in Sweden show consecutive quarterly increases, while Finland and Austria report similar trends.
- According to the Construction Product Association (CPA)’s latest Spring Forecast, a double-digit growth is expected this year. With the whole supply chain permitted to operate during the winter, activity was not hit as hard compared to the initial lockdown. The CPA suggests it will be next year before the industry recovers completely.
To read the Construction Product Association Spring Forecast, click here.
The longest-living species of pine is the Great Basin bristlecone pine, Pinus Longaeva. One individual of this species, dubbed “Methuselah” (pictured to the right), is one of the world’s oldest living organisms at around 4,800 years old.
This tree can be found in the White Mountains of California. An older tree, (also a bristlecone pine) was discovered in the Inyo National Forest. It is over 5,000 years old.