Growth rate of building costs slowed down to 1.5 per cent in January

Building costs rose by 1.5 per cent from January 2008 to January 2009. Labour costs in construction went up by 4.0 per cent and prices of materials by 0.9 per cent. Those of other inputs went down by 1.3 per cent year-on-year. This is indicated by the building cost index of Statistics Finland.

From December 2008 to January 2009, the total index of building costs went down by 0.2 per cent. The prices for labour rose by 0.1 procent, the prices of materials were the same and the prices of those for other inputs went down by 1.6 per cent.

Building Cost Index (2005 = 100) and its year-on-year and month-on-month changes

Index	January 2009	Change % 1/2008 - 1/2009	Change % 12/2008 - 1/2009
Building trade newbuilding
Total index	113.5	1.5	-0.2
Labour	110.7	4.0	0.1
Materials	115.6	0.9	0.0
Other inputs	112.0	-1.3	-1.6

By type of building
Newbuilding
Blocks of flats	113.5	0.8	-0.3
Detached residential houses	113.0	0.6	-0.1
Office and commercial buildings	113.0	1.6	-0.3
Industrial and warehouse buildings	114.3	2.7	0.0
Agricultural production buildings	116.6	-2.2	-0.6

Source: Building cost index 2009, January. Statistics Finland

Inquiries: Ms Sinikka Kanerva +358 9 1734 2231, rakennus.suhdanne@stat.fi

Director in charge: Ms Hannele Orjala

Last updated 12.2.2009

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. January 2009. Helsinki: Statistics Finland [referred: 27.5.2012].
Access method: http://www.tilastokeskus.fi/til/rki/2009/01/rki_2009_01_2009-02-12_tie_001_en.html.

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