Quarter three followed the same downward trajectory as the previous quarter, and while better weather in the autumn delivered steady demand from new build customers, it was Repair Maintenance and Improvement (RMI) where the steel lintels market was feeling the pinch. The delayed budget has done little to improve things. As we move into Q4, the short-term outlook shows that uncertainty is impacting new builds and further curtailing RMI spend.

So how bad is it? According to Royal Institution of Charted Surveyors’ (RICS) UK residential market survey, the nation is stuck in a ‘holding pattern’ as buyer demand, sales activity and new instructions in October fell further into negative territory. New vendor instructions hit a four-year low.

The reason behind the slowdown is clear. Fears of possible changes to property-related taxes in the budget, such as changes to stamp duty, capital gains and inheritance tax, are making future transactions an unknown. While we wait to understand the effects of the budget, we expect to see a slower housing market for the next couple of quarters.

To stimulate opportunities to build more good homes, ongoing challenges with planning red tape and further delays to the Future Homes Standard need resolving sooner rather than later.

The slowdown will have a knock-on effect for merchants and manufacturers, who could put off key business decisions like investments in new stock or machinery, until things pick up.

It might be tempting to put decisions on hold, however our message to stockists is not to fall into the ‘de-stocking’ trap but to maintain the correct breadth and depth of stock to support the few builders that are building. Those builders will still need lintels – albeit at a slower rate. Engaging with local sales teams will help support opportunities for sales leads, so use your area representatives – that’s what they are there for.

Growing sales in a difficult economy is a team game, and the more we can work together, the more we can maximise opportunities as they arise, while putting plans in place to meet demand when better times arrive.