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Construction Cost Index for buildings, May 2018:

Construction costs rose by 3.1 percent on an annual basis

Statistical news from Statistics Sweden 2018-06-15 9.30

The Construction Cost Index for multi-dwelling buildings increased by 0.7 percent between April and May 2018 and by 3.1 percent on an annual basis.

Developments over the last month

The Construction Cost Index for multi-dwelling buildings increased by 0.7 percent between April and May 2018. In the corresponding period in 2017, it increased by 0.5 percent. Contractors’ costs, which account for more than 82 percent of the Construction Cost Index, increased by 0.9 percent between April and May 2018.

Building material costs rose by 0.6 percent. In the group ‘building materials’, the cost of plumbing material rose most. The cost of iron and steel, concrete, woodwork, electric materials, other building materials and floor material also rose between April and May. The cost of wood products and white goods decreased. The cost of reinforcement steel and painting materials remained unchanged.

Costs of wages and salaries increased by 1.8 percent. Costs in the group ‘transport, fuel and electricity’ increased by 1.0 percent, in which the increased cost of fuel accounted for 3.9 percent. Contractors’ other costs and machinery costs also increased.

Investor costs increased by 0.2 percent between April and May 2018.

Developments over the past year

The Construction Cost Index for multi-dwelling buildings increased by 3.1 percent and contractors’ costs rose by 3.3 percent between May 2017 and May 2018. The increased contractors’ costs resulted in an increase of 2.7 percentage points for the total index in the same period.

The group ‘transport, fuel and electricity’ increased most, 5.2 percent, among contractors’ costs. Building material costs, contractors’ other costs, machinery costs and wages and salaries also increased.

Building material costs increased by 4.2 percent. Reinforcement steel and iron and steel accounted for the largest price increase in the building materials group, and increased by 15.8 percent and 9.2 percent, respectively. Costs in other building material groups also rose, but not to the same extent.

Investor costs increased by 1.9 percent on an annual basis.

The development for different production factors, May 2017–May 2018

Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax.  

Diagram

The width of the bars represents the production factor’s weight share in percent in the calculation of the Construction Cost Index for multi-dwelling buildings. The height of the bars represents the average price development for each production factor.

Changes by product type, May 2018
GoodsChange in percent
 May 2017–
May 2016
May 2018–
May 2017
Reinforcement steel
+12.8 +15.8
Iron and steel*
+8.7 +9.2
Material for painting
+0.2 +5.7
Concrete products
+3.6 +4.6
Other building materials**
+3.9 +4.6
Plumbing material
+2.7 +4.1
Wood products
+4.5 +3.1
Woodwork
+3.0 +2.6
Electric material
+4.2 +2.2
White goods
+0.7 +1.7
Floor material
+1.9 +1.4
Total building materials
+4.0 +4.2

* Includes reinforcement steel. ** Includes materials for thermal insulation, garbage equipment, gypsum and wood-based boards.

The development for difference building products, May 2017–May 2018

 Construction Cost Index for multi-dwellings buildings, excl. VAT.

Diagram

The width of the bars represents the construction material group’s weight share in percent of all construction material in the calculation of the Construction Cost Index for multi-dwelling buildings. The height of the bars represents the average price development for each product category.

Next publishing will be

2018-08-15 at 9:30.

 

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.

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Statistics Sweden, Price Statistics

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