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Construction Cost Index for buildings, October 2018

Construction costs rose by 3.6 percent in October on an annual basis

Statistical news from Statistics Sweden 2018-11-15 9.30

The Construction Cost Index for multi-dwelling buildings increased by 0.2 percent between September and October 2018. On an annual basis, construction costs rose by 3.6 percent.

Developments between September and October 2018

The Construction Cost Index for multi-dwelling buildings increased by 0.2 percent between September and October 2018. In the corresponding period in 2017, the Index also increased by 0.2 percent. Contractors’ costs, which account for more than 82 percent of the Construction Cost Index, increased by 0.2 percent between September and October 2018.

Building material costs rose by 0.2 percent. In the group ‘building materials’, the cost of woodwork, iron and steel and other building materials rose most, 0.6 percent each. The cost of concrete products and wood products decreased. There were small increases or no changes in costs in other building material groups.

Costs in the group ‘transport, fuel and electricity’ increased by 1.9 percent, of which the cost of electricity and diesel oil rose by 6.2 percent and 2.3 percent respectively. Contractors’ other costs decreased, while costs of machinery, wages and salaries remained unchanged.

Investor costs increased by 0.3 percent between September and October 2018.

Developments between October 2017 and October 2018

The Construction Cost Index for multi-dwelling buildings increased by 3.6 percent between October 2017 and October 2018. Contractors’ costs rose by 3.9 percent. The increased contractors’ costs led to an increase of 3.2 percentage points for the total index in the same period.

The group ‘transport, fuel and electricity’ increased most, 7.9 percent, among contractors’ costs. Within that group, the cost of diesel oil and electricity increased by 19.7 percent and 12.0 percent respectively.

Building material costs increased by 5.3 percent. Material for painting and iron and steel, including reinforcement steel, accounted for the largest price increase in the building materials group, 11.3 percent and 9.1 percent, respectively. Costs in other building material groups also rose, but not to the same extent. Contractors’ other costs, machinery costs, wages, and salaries rose between 1.6 percent and 3.3 percent.

Investor costs increased by 2.6 percent on an annual basis.

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

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

Chart: The development for different production factors, October 2017–October 2018

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, October 2018
GoodsChange in percent
 October 2018–
September 2018
October 2018–
October 2017
Reinforcement steel +0.1 +13.8
Material for painting +0.0 +11.3
Iron and steel* +0.6 +9.1
Wood products ‑0.1 +8.0
Other building materials** +0.6 +7.7
Concrete products ‑0.2 +4.6
Plumbing material +0.0 +4.5
Electric material +0.3 +4.1
Woodwork +0.6 +3.9
White goods +0.5 +2.3
Floor material +0.1 +1.8
Total building materials +0.2 +5.3

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

Developments in various production factors, October 2017–October 2018

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

Chart: Developments in various production factors, October 2017–October 2018

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

2018-12-17 at 9:30.

 

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