Building costs fell by 2.5 per cent in October

Building costs were 2.5 per cent lower in October 2009 than in October 2008. Labour costs in construction rose by 1.2 per cent in the year. By contrast, prices of materials fell by 3.1 per cent and those of other inputs by 7.6 per cent. This is indicated by the Building Cost Index of Statistics Finland.

From September to October, the total index of building costs rose by 0.1 procent. The prices for labour and the prices of materials rose by 0.1 procent from September. Those of other inputs rose by 0.3 per cent from September.

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

Index	October 2009	Change % 10/2008 - 10/2009	Change % 9/2009 - 10/2009
Building trade newbuilding
Total index	112.7	-2.5	0.1
Labour	113.8	1.2	0.1
Materials	113.3	-3.1	0.1
Other inputs	108.4	-7.6	0.3

By type of building
Newbuilding
Blocks of flats	113.0	-2.0	0.1
Detached residential houses	112.5	-2.3	0.1
Office and commercial buildings	112.3	-2.5	0.0
Industrial and warehouse buildings	112.9	-2.7	0.2
Agricultural production buildings	115.1	-3.6	0.1

Source: Building cost index 2009, October. Statistics Finland

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

Director in charge: Ms Hannele Orjala

Last updated 12.11.2009

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. October 2009. Helsinki: Statistics Finland [referred: 14.2.2012].
Access method: http://www.tilastokeskus.fi/til/rki/2009/10/rki_2009_10_2009-11-12_tie_001_en.html.

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