Published: 15 November 2017

Building costs rose by 0.1 per cent in October year-on-year

According to Statistics Finland, building costs rose by 0.1 per cent in October 2017 from one year back. The prices of materials went up by one per cent and those of services by 1.3 per cent from October 2016. At the same time, the prices of labour inputs fell by 1.3 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

Long term development of the Building Cost Index

From September to October, the total index of building costs grew by 0.5 per cent. The prices of services went up by 1.1 per cent in a month and the prices of materials by 0.1 per cent. The prices of labour inputs rose by 0.8 per cent from the previous month.

Building cost index 2015=100, October 2017

Professional construction of new buildings Weights Index Monthly change, % Annual change, %
Total index   1000 101.2 0.5 0.1
By type of cost Labour inputs 400 100.6 0.8 -1.3
Materials 510 101.8 0.1 1.0
Services 90 101.0 1.1 1.3
By purpose of use Residential building 440 101.3 0.5 0.1
Other building construction 560 101.2 0.4 0.1

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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Updated 15.11.2017

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. October 2017. Helsinki: Statistics Finland [referred: 17.12.2017].
Access method: http://www.stat.fi/til/rki/2017/10/rki_2017_10_2017-11-15_tie_001_en.html

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