Ipswich construction bosses have warned of a "pricing lottery" as the industry enters the second half of 2022.

Paul Rodwell and Simon Girling of SEH French said prices of materials can change overnight without warning - leading to big delays on projects.

The situation was unprecedented, they said, and follows a sharp spike in prices over the last two years due to supply shortages following the coronavirus pandemic and Brexit - with the cost-of-living crisis and war in Ukraine only serving to exacerbate the problem.

Mr Girling said construction companies, suppliers and clients were having to deal with what he described as a pricing lottery for every project.

"The price of materials can change overnight without warning," he said.

“The situation facing the construction industry is unprecedented, but we are managing well by working together, and I’m confident others can too.

“If contractors work closely with their suppliers and their clients, having realistic conversations, we can communicate and work around fluctuating prices. This can help avoid the need for contractors to up their prices significantly to accommodate a change in material costs, therefore potentially saving clients money.

“By not working together it could risk projects being delayed and companies, across all areas of the sector, facing more challenges.”

Prices of steel, cement and glass have soared by more than 10% since January, according to the Construction Leadership Council. This follows a 20% hike in materials costs in 2021 according to the Department for Business, Energy and Industrial Strategy figures.

Many contractors were dropping their usual fixed prices for tenders to cope with the shifting cost of materials, said SEH French.

The company - which works in a number of sectors including education, commercial, medical and residential - said communication was key.

“Throughout the uncertainty, SEH French have remained upfront with clients and suppliers, ensuring we are all on the same page and working in the best interest of everyone," said Mr Rodwell. He feels that firms should be upfront about the problem.