Construction Cost Index for buildings, March 2021
Construction costs rose by 2.7 percent in March on an annual basis
Statistical news from Statistics Sweden 2021-04-15 9.30
The Construction Cost Index for multi-dwelling buildings rose by 0.2 percent between February and March 2021. The annual rate of change in construction costs was 2.7 percent in March compared with 2.6 percent in February.
| Index | Change in percent | |||
|---|---|---|---|---|
| March | February 2021– March 2021 | March 2020– March 2021 | ||
| Contractors´costs (82%) | 115.7 | 0.3 | 2.9 | |
| Construction clients’ costs (18%) | 115.0 | -0.4 | 2.1 | |
| Total Construction cost index (100%) | 115.6 | 0.2 | 2.7 | |
Changes in the last month
The Construction Cost Index for multi-dwelling buildings increased by 0.2 percent in March compared with February. In the corresponding period in 2020, the Construction Cost Index remained unchanged. Contractors’ costs increased by 0.3 percent, while construction clients’ costs decreased by 0.4 percent. These two groups accounted for 82 percent and 18 percent of the Construction Cost Index, respectively.
Contractors’ costs in the group ‘transport, fuel and electricity’ increased by 0.8 percent. This mostly came from a 3.7 percent increase in the cost of diesel oil compared with February. Overhead costs increased by 0.1 percent, while machinery costs and costs of wages and salaries remained unchanged.
Contractors’ costs for building materials increased by 0.5 percent between January and February 2021. All costs in building material groups rose slightly, with the exception of white goods and material for painting, which remained unchanged and the cost of woodwork, which decreased.
Construction clients’ costs consist of interest and credit costs, costs for plans, and central administration. The decrease in construction clients’ costs was due to lower interest costs.
Changes in the last year
The Construction Cost Index for multi-dwelling buildings increased by 2.7 between March 2020 and March 2021. Contractors’ costs rose by 2.9 percent, which led to an upward contribution of 2.3 percentage points to the total increase in the Construction Cost Index. Construction clients’ costs increased by 2.1 percent, which led to an upward contribution of 0.4 percentage points to the total index in the same period.
Contractors’ costs and investor costs have not been affected by the temporary reduction in employers’ tax from March to June 2020. In March 2020, there was no basis for calculating the effect on the Construction Cost index. Wages and salaries account for about 40 percent of the Construction Cost Index.
Contractors’ costs of building materials increased by 4.0 percent between March 2020 and March 2021. Reinforcement steel, wood products and iron and steel, including reinforcement steel accounted for the largest price increase in the building materials group, while the cost of woodwork and white goods decreased.
Between March 2020 and March 2021, contractors’ costs for wages and salaries increased by 3.0 percent. Overhead costs increased by 2.0 percent and contractors’ costs in the group ‘transport, fuel and electricity’ increased by 1.4 percent. Machinery costs decreased by 2.0 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 | ||
|---|---|---|---|
| February 2021– March 2021 | March 2020– March 2021 | ||
| Reinforcement steel | +1.5 | +19.8 | |
| Wood products | +0.5 | +14.0 | |
| Iron and steel* | +1.0 | +10.3 | |
| Concrete products | +0.3 | +5.2 | |
| Other building materials** | +1.6 | +4.4 | |
| Electric material | +0.5 | +3.6 | |
| Plumbing material | +0.7 | +2.6 | |
| Material for painting | +0.0 | +1.7 | |
| Floor material | +0.3 | +1.0 | |
| White goods | +0.0 | -0.1 | |
| Woodwork | ‑0.2 | ‑4.0 | |
| Total building materials | +0.5 | +4.0 | |
* 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.
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2021-05-17 09:30.
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