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Published: 15 September 2017

Building costs rose by 0.3 per cent in August year-on-year

According to Statistics Finland, building costs rose by 0.3 per cent in August 2017 compared with the previous year's August. The prices of materials rose by 1.3 per cent and those of services by 0.6 per cent compared with August of the previous year. At the same time, the prices of labour inputs fell by 1.1 per cent. The fall in the prices of labour inputs is explained by lower employer’s social security costs compared with 2016.

Long term development of the Building Cost Index

From July to August, the total index of building costs remained nearly unchanged. The prices of materials went up by 0.2 per cent and those of services remained on level with the previous month. The prices of labour inputs fell by 0.2 per cent which was caused by data revisions in the index of wage and salary earnings.

Building cost index 2015=100, August 2017

Professional construction of new buildings		Weights	Index	Monthly change, %	Annual change, %
Total index		1000	100.8	0.0	0.3
By type of cost	Labour inputs	400	99.8	-0.2	-1.1
	Materials	510	101.8	0.2	1.3
	Services	90	99.9	0.0	0.6
By purpose of use	Residential building	440	100.8	0.0	0.3
	Other building construction	560	100.8	0.0	0.3

Source: Building cost index. Statistics Finland

Inquiries: Atro Andersson 029 551 3544, Merja Järvinen 029 551 2458, rakennus.indeksit@stat.fi

Director in charge: Sami Saarikivi

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Appendix tables

• Appendix table 1. Input indices 2015=100, August 2017 (15.9.2017)
• Appendix table 2. Residential building 2015=100, August 2017 (15.9.2017)

Figures

• Appendix figure 1. Input indices 2015=100, largest annual changes, per cent (15.9.2017)
• Appendix figure 2. Index clause sub-indices P 2000=100 (15.9.2017)

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Updated 15.09.2017