Will Brexit affect the price of wood?

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As our politicians are in Europe negotiating Brexit, we are still in the dark about what the long-term effects of an exit from the EU will be. Trade agreements will need to be arranged, and our supply of many different commodities will be affected. What will the impact be on the price of wood flooring?

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The pound

The price of our imports is directly affected by the strength of the pound. That value dropped significantly following the EU referendum; however, it had begun to recover. but now that negotiations are taking place, it has started to fall again. Top fund managers are expecting this to continue, meaning that imported wood will become more expensive.

Trade agreements

It isn’t simply a question of the strength of the pound, though. If we leave both the EU and the common market, we’ll need to negotiate trade agreements with all our current partners. While this will also open up opportunities for other markets, we are unlikely to be able to negotiate a preferable deal within Europe, so prices are expected to rise.

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What are the alternatives?

If you would like the look of hardwood without the expense, then it’s worth considering laminate flooring. It comes in a range of finishes, not only favourites like pine and oak. You can also buy flat colours, like this grey laminate flooring https://www.woodfloorwarehouse.co.uk/laminate-flooring/grey.html.

Although the prices of laminate, which is made from wood, are also expected to rise, it is still likely to be the most affordable option.