Building costs rose by 1.4 per cent in October year-on-year

release 15/11/2023 | Building cost index 2023, October

According to Statistics Finland, building costs rose by 1.4 per cent in October 2023 from one year back. Among materials, the biggest increases in the year were recorded in house equipment (7.0%) and moulding equipment and supporting (7.7%). Costs decreased most in the year in timber structures (-10.9%) and precast concrete units (-13.1%).

Line chart. The starting point of the index in 2000 is 100. The figure shows the index point figures of the Building Cost Index 2000=100 by cost item: total index, labour inputs, materials, services. The index has risen slightly year by year as concerns the total index, labour, materials and services. At the turn of 2008 and 2009, the fall in the prices of services and materials also turned the total index into a decline for around one year. In summer 2021, there was a sharp rise in the prices of materials, which pushed the total index up considerably.

Key selections

Building costs rose by 1.4 per cent from one year ago.
The costs of materials decreased by -1.2 per cent from one year back.
The prices of labour increased by 5.6 per cent from one year ago.
The total index went down by -0.4 per cent from the month before.

Statistics used in the release

Building cost index

Figures

See key statistical data in the figures.

15.11.2023

Index clause sub-indices P 2000=100, 2000M01-2023M10

Tables

See key statistical data in the tables.

15.11.2023

Building Cost Index 2021=100, October 2023

	Index figure	Monthly change, %	Annual change, %
0 Total index	110.6	-0.4	1.4
01 Labour	109.0	0.5	5.6
02 Materials	112.7	-0.9	-1.2
03 Services	105.0	-0.9	0.4

15.11.2023

Building Cost Index 2021=100 by purpose of use, October 2023

	Index figure	Monthly change, %	Annual change, %
0 Total index	110.6	-0.4	1.4
01 Residential building	109.9	-0.3	1.3
02 Other building construction	111.1	-0.4	1.6

15.11.2023

Building Cost Index 2021=100 by input heading, October 2023

	Index figure	Monthly change, %	Annual change, %
0 TOTAL INDEX	110.6	-0.4	1.4
01 LABOUR	109.0	0.5	5.6
02 MATERIALS	112.7	-0.9	-1.2
02.1 AREA	107.1	-1.5	2.5
02.1.1 Soil	107.4	1.3	3.9
02.1.2 Construction site surface structures	103.9	-7.9	-1.5
02.1.3 House equipment	120.8	2.2	7.0
02.2 HOUSE	110.8	-1.5	-3.9
02.2.1 Concrete, bricks and blocks	117.8	-0.5	3.7
02.2.2 Precast concrete units	102.9	-3.6	-13.1
02.2.3 Timber structures	88.6	0.3	-10.9
02.2.4 Steel structures	117.1	-3.9	-8.6
02.2.5 Roofing materials	118.3	0.2	-3.4
02.2.6 Heat insulation	131.6	-3.2	4.4
02.2.7 Windows and doors	117.7	-0.1	1.7
02.3 FACILITIES	115.0	-0.6	1.1
02.3.1 Frame structures	114.0	-2.0	-3.6
02.3.2 Surface materials	119.2	-0.2	4.9
02.3.3 Fixtures, taps and household appliances	112.0	0.3	1.6
02.4 TECHNICAL SYSTEMS	117.4	0.2	1.3
02.4.1 Heat, water and sewer	117.5	0.3	-2.2
02.4.2 Ventilation	114.9	0.4	1.0
02.4.3 Electricity, control, lighting and lift	118.5	0.2	2.7
03 SERVICES	105.0	-0.9	0.4
03.1 SITE AND FIXTURE SERVICES	105.5	-1.1	0.4
03.1.1 Transport	116.8	-1.3	-0.4
03.1.2 Mechanical work and hoisters	96.7	-2.1	-3.2
03.1.3 Site facilities, scaffolding and weather protection	99.4	0.8	2.3
03.1.4 Moulding equipment and supporting	114.2	-2.1	7.7
03.1.5 Waste charges	105.7	0.0	3.1
03.1.6 Site energy	89.2	-5.7	-2.9
03.2 OTHER SERVICES	102.3	0.0	0.6
03.2.1 Insurance	107.4	0.0	2.9
03.2.2 Connection charges	99.8	0.0	-0.6