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Building costs rose by 5.9 per cent in October year-on-year

release 15/11/2022 | Building cost index 2022, October

According to Statistics Finland, building costs rose by 5.9 per cent in October 2022 from one year back. Among materials, the biggest increases in the year were recorded in steel structures (15.3%) and heat insulation (25.5%). The fall in the costs of timber structures continued and the change from the previous year was -10.8 per cent.

Line chart. The starting point of the index in 2000 is 100. The figure shows the index point figures of the Building Cost Index 2000=100 by cost item: total index, labour inputs, materials, services. The index has risen slightly year by year as concerns the total index, labour, materials and services. At the turn of 2008 and 2009, the fall in the prices of services and materials also turned the total index into a decline for around one year. In summer 2021, there was a sharp rise in the prices of materials, which pushed the total index up considerably.

Key selections

Building costs rose by 5.9 per cent from one year ago.
The costs of materials rose by 9.6 per cent from one year back.
The prices of services increased by 4.9 per cent from one year ago.
Monthly changes have turned negative in several input heading and thus curb the rise in building costs.
The total index went up by 0.1 per cent from the month before.

Monthly changes have turned negative in several input heading

There are signs of slowing down in the rise in building costs. This can be seen, for example, from negative monthly changes in timber structures (-6.7%), steel structures (-0.8%) and site energy (-2.4%).

Statistics used in the release

Building cost index

Figures

See key statistical data in the figures.

15.11.2022

Index clause sub-indices P 2000=100, 2000M01-2022M10

Tables

See key statistical data in the tables.

15.11.2022

Building Cost Index 2021=100, October 2022

	Index figure	Monthly change, %	Annual change, %
0 Total index	109.0	0.1	5.9
01 Labour	103.2	0.6	1.0
02 Materials	114.1	-0.5	9.6
03 Services	104.5	1.2	4.9

15.11.2022

Building Cost Index 2021=100 by purpose of use, October 2022

	Index figure	Monthly change, %	Annual change, %
0 Total index	109.0	0.1	5.9
01 Residential building	108.6	0.0	5.5
02 Other building construction	109.4	0.1	6.2

15.11.2022

Building Cost Index 2021=100 by input heading, October 2022

	Index figure	Monthly change, %	Annual change, %
0 TOTAL INDEX	109.0	0.1	5.9
01 LABOUR	103.2	0.6	1.0
02 MATERIALS	114.1	-0.5	9.6
02.1 AREA	104.5	1.2	5.2
02.1.1 Soil	103.4	1.5	5.0
02.1.2 Construction site surface structures	105.5	0.7	5.0
02.1.3 House equipment	112.9	-0.2	9.5
02.2 HOUSE	115.3	-1.4	8.9
02.2.1 Concrete, bricks and blocks	113.6	-0.6	9.7
02.2.2 Precast concrete units	118.5	-0.5	13.5
02.2.3 Timber structures	99.4	-6.7	-10.8
02.2.4 Steel structures	128.2	-0.8	15.3
02.2.5 Roofing materials	122.5	-0.5	14.0
02.2.6 Heat insulation	126.1	1.0	25.5
02.2.7 Windows and doors	115.8	-0.6	9.9
02.3 FACILITIES	113.7	0.2	11.1
02.3.1 Frame structures	118.3	-1.6	14.2
02.3.2 Surface materials	113.7	1.7	11.6
02.3.3 Fixtures, taps and household appliances	110.2	0.3	8.4
02.4 TECHNICAL SYSTEMS	116.0	0.3	11.5
02.4.1 Heat, water and sewer	120.1	-0.1	15.4
02.4.2 Ventilation	113.8	0.1	8.1
02.4.3 Electricity, control, lighting and lift	115.4	0.6	11.5
03 SERVICES	104.5	1.2	4.9
03.1 SITE AND FIXTURE SERVICES	105.0	1.5	5.6
03.1.1 Transport	117.3	2.6	15.1
03.1.2 Mechanical work and hoisters	99.9	4.3	-0.1
03.1.3 Site facilities, scaffolding and weather protection	97.1	0.6	0.4
03.1.4 Moulding equipment and supporting	106.1	1.6	3.8
03.1.5 Waste charges	102.6	0.0	2.6
03.1.6 Site energy	92.0	-2.4	-4.7
03.2 OTHER SERVICES	101.8	0.0	1.1
03.2.1 Insurance	104.4	0.0	3.3
03.2.2 Connection charges	100.4	0.0	-0.1