Building costs rose by 2.8 per cent in February

Building costs were 2.8 per cent higher in February 2011 than in February 2010. Labour costs in construction rose by 0.4 per cent and prices of materials by 4.1 per cent in the year. Those of other inputs rose by 3.3 per cent. This is indicated by the Building Cost Index of Statistics Finland.

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

Index	February 2011	Change % 2/2010 - 2/2011	Change % 1/2011 - 2/2011
Building trade newbuilding
Total index	116.2	2.8	0.3
Labour	115.0	0.4	0.0
Materials	118.4	4.1	0.3
Other inputs	111.3	3.3	0.8

By type of building
Newbuilding
Blocks of flats	117.6	3.5	0.4
Detached residential houses	115.9	2.8	0.3
Office and commercial buildings	115.9	2.7	0.2
Industrial and warehouse buildings	116.0	2.6	0.2
Agricultural production buildings	121.8	6.0	1.1

From January to February, the total index rose by 0.3 per cent. The prices for labour were the same than in January. The prices of materials rose by 0.3 per cent and the prices for those of other inputs by 0.8 per cent.

The Building Cost Index will be released with the new base year 2010, 12.4.2011.

Source: Building cost index 2011, February. Statistics Finland

Inquiries: Mr Mika Sirviö +358 9 1734 2723, rakennus.suhdanne@stat.fi

Director in charge: Ms Hannele Orjala

Last updated 11.3.2011

Referencing instructions:

Official Statistics of Finland (OSF): Building cost index [e-publication].
ISSN=1799-5841. February 2011. Helsinki: Statistics Finland [referred: 27.5.2012].
Access method: http://www.tilastokeskus.fi/til/rki/2011/02/rki_2011_02_2011-03-11_tie_001_en.html.

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