The first quarter of 2023 can only be described as slow. Slow when we compare to “normal” for the start of the year (assuming we can remember far enough back to normal!) but particularly slow when we compare to Q1 2022 which, in all fairness, is not a realistic comparison.

It was only 12 months ago that the roof window category was recovering from unprecedented demand in the second half of 2021, prompting our first ever customer allocation. Through the hard work of lots of people, production and supply volumes were rapidly increased and we recovered quickly, enjoying record volumes in Q1 2022. Buyer’s behaviours often change during allocation, boosting orders to an arguably unsustainable level. Not then, a true picture of underlying market demand.

When we review sales-out data from our customers, we gain a better understanding of demand, with volumes down by double digits. The reasons range from cost to confidence. Government policy hasn’t helped and, given that borrowing costs remain low compared to a long term average, it feels like we need appropriate stimulus to the housing market to encourage the next generation to get on the ladder.

The Construction Products Association (CPA) forecasts for 2023 indicate that it will be a tough year, with RMI and new building housing, to which we are most exposed, being particularly badly impacted. However, the fact remains that we continue to suffer a massive shortage of quality housing in the UK so the long term outlook for the construction product sector remains positive.

The house builders we work most closely with are holding up remarkably well and are focused on improvements to house type design to achieve the new building regulations. Keylite’s integrated thermal collar is the perfect solution to the requirements of Part L to evidence control of cold bridging at the junctions between the window and the roof. Supplied at no extra cost, Keylite presents both a strong technical and commercial proposition.

We will continue to work with our customers to understand their needs and bring innovative solutions to market, whatever the demand environment.