23rd June 2016 and the UK votes to leave Europe. Whilst we are still to begin negotiating our exit with our European cousins we have immediately seen our currency weaken to it's lowest for 31 years… ouch. So what?
Well, in the flooring world it has had an impact. The vast majority of flooring products are now produced overseas. Our biggest continent for importing flooring to the UK is Europe and if as a nation we're not buying our flooring products from Europe the rest tends to be purchased in US Dollars. With our trusted pound losing so much in the early weeks after Brexit, all Worldwide manufacturers had to increase their prices. This took effect during August.
Since then, the pound continued to decline and whilst it appears to have bottomed out and not slid further, it has lost an awful lot again since August. Whilst nothing concrete has been announced by Europe's major manufacturers, the winds of change are blowing, suggesting there is very likely to be a further increase in January 2017.
With that in mind, if you are seriously considering making a flooring purchase within the next few months, from whomever your preferred retailer is, we recommend you make your purchase as soon as possible, or at least before January 2017.