Construction Cost Index for buildings, October 2021
Construction costs rose by 8.2 percent in October on an annual basis
Statistical news from Statistics Sweden 2021-11-15 9.30
The Construction Cost Index for multi-dwelling buildings rose by 0.6 percent between September and October 2021. The annual rate of change in construction costs was 8.2 percent in October, compared with 2021.
| Index | Change in percent | |||
|---|---|---|---|---|
| October | September 2021– October 2021 |
October 2020– October 2021 |
||
| Contractors´costs (82%) | 123.0 | 0.8 | 9.4 | |
| Construction clients’ costs (18%) | 116.5 | 0.0 | 2.8 | |
| Total Construction cost index (100%) | 121.9 | 0.6 | 8.2 | |
Changes in the last month
The Construction Cost Index for multi-dwelling buildings increased by 0.6 percent in October compared with September. In the corresponding period in 2020, the Construction Cost Index increased by 0.2 percent.
Contractors’ costs increased by 0.8 percent between September and October 2021 while construction clients’ costs remained unchanged. These two groups accounted for 82 percent and 18 percent, respectively, of the Construction Cost Index.
Contractors’ costs in the group ‘transport, fuel and electricity’ increased by 5.9 percent. This was mainly due to increases in the cost of electricity and diesel oil. Overhead costs increased by 0.2 percent, while the costs of wages and salaries and machinery costs remained unchanged.
Contractors’ costs for building materials increased by 0.9 percent between September and October 2021. In the group ‘building materials’, the cost of white goods increased the most, by 2.7 percent. All costs in the building material groups rose slightly with the exception of wood products, reinforcement steel and plumbing material, which decreased. Costs of wood products and reinforcement steel have so far increased or remained unchanged in 2021, but fell now between September and October.
Construction clients’ costs consist of interest and credit costs, costs for plans, and central administration. All of the construction clients’ costs rose slightly or remained unchanged with the exception of interest costs, which decreased.
Changes in the last year
The Construction Cost Index for multi-dwelling buildings increased by 8.2 percent between October 2020 and October 2021. Contractors’ costs rose by 9.4 percent, which led to an upward contribution to the Construction Cost Index of 7.7 percentage points. Construction clients’ costs increased by 2.8 percent, which led to an upward contribution to the Construction Cost Index of 0.5 percentage points.
Contractors’ costs of building materials increased by 16.6 percent between October 2020 and October 2021. In the group ‘building materials’, the costs of wood products and reinforcement steel continued to be high, although lower than last month. These costs have been rising for some time due to a shortage of raw materials as a result of rising global demand. The costs of wood products and reinforcement steel increased by 81.8 percent and 64.8 percent respectively. The costs of iron and steel, including reinforcement steel, rose by 41.0 percent. All costs in building material groups rose.
Contractors’ costs for wages and salaries increased by 3.0 percent between October 2020 and October 2021. Contractors’ costs in the group ‘transport, fuel and electricity’ increased by 15.8 percent. Between October 2020 and October 2021, the cost of diesel oil and electricity rose by 38.6 percent and 31.1 percent respectively. Overhead costs rose by 2.4 percent, and machinery costs increased by 0.4 percent.
Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax.
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 of each production factor.
| Goods | Change in percent | ||
|---|---|---|---|
| September 2021– October 2021 |
October 2020– October 2021 |
||
| Wood products | ‑1.4 | +81.8 | |
| Reinforcement steel | ‑1.1 | +64.8 | |
| Iron and steel* | +1.6 | +41.0 | |
| Concrete products | +1.4 | +13.9 | |
| Plumbing material | ‑0.3 | +11.1 | |
| Other building materials** | +0.6 | +10.3 | |
| Electric material | +0.6 | +6.3 | |
| Woodwork | +1.6 | +6.0 | |
| Floor material | +0.4 | +5.8 | |
| Material for painting | +0.6 | +4.7 | |
| White goods | +2.7 | +4.5 | |
| Total building materials | +0.9 | +16.6 | |
* Includes reinforcement steel. ** Includes materials for thermal insulation, garbage equipment, gypsum and wood-based boards.
Construction Cost Index for multi-dwelling buildings, excl. VAT
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 of each product category.
Definitions and explanations
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 of each production factor.
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2021-12-15 09:30.
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