Construction Cost Index for buildings, November 2022
Construction Cost Index decreased in November compared to October 2022
Statistical news from Statistics Sweden 2022-12-15 8.00
The Construction Cost Index for multi-dwelling buildings decreased by 0.1 percent in November 2022 compared with October 2022. The annual rate of change in the Construction Cost Index was 15.2 percent in November, compared with the corresponding month in 2021, down from 15.3 percent in October.
In brief
- Interest costs increased by 114.3 percent between November 2021 and November 2022.
- The annual changes for wood products continued to fall.
- Lower costs for building materials contributed to the Contractors’ costs decreasing compared with the previous month.
| Index | Change in percent | |||
|---|---|---|---|---|
| November | October 2022– November 2022 |
November 2021– November 2022 |
||
| Contractors' costs (82%) | 137.8 | ‑0.3 | 11.6 | |
| Construction clients' costs (18%) | 152.5 | 1.0 | 33.2 | |
| Total Construction cost index (100%) | 140.4 | ‑0.1 | 15.2 | |
Changes in the last month
The Construction Cost Index for multi-dwelling buildings decreased by 0.1 percent between October and November 2022. In the corresponding period in 2021, the Construction Cost Index remained unchanged.
Contractors’ costs decreased by 0.3 percent, while construction clients’ costs increased by 1.0 percent. These two groups accounted for 82 percent and 18 percent, respectively, of the Construction Cost Index.
Contractors’ costs for Machinery increased the most, by 1.7 percent. Costs in the group ‘transport, fuel and electricity’ decreased by 0.8 percent. The costs for diesel oil decreased the most, by 3.2 percent. Contractors’ overhead costs and costs for wages and salaries remained unchanged.
Contractors’ costs for building materials decreased by 0.8 percent. The costs of reinforcement steel and wood products decreased the most, by 6.0 percent and 4.1 percent respectively. The decrease was offset by the fact that the costs of white goods, plumbing material, woodwork, concrete products and floor material rose by between 0.2 and 0.5 percent.
Construction clients’ costs consist of interest and credit costs, costs for plans, and central administration. Interest costs increased by 2.6 percent. Other construction clients’ costs remained unchanged.
Changes in the last year
The Construction Cost Index for multi-dwelling buildings increased by 15.2 percent between November 2021 and November 2022. During 2022, the annual rate of change increased continuously until November 2022 except during August and November 2022.
Contractors’ costs rose by 11.6 percent, which led to an upward contribution to the Construction Cost Index of 9.6 percentage points. Construction clients’ costs increased by 33.2 percent, which led to an upward contribution to the Construction Cost Index of 5.6 percentage points. The increase of the construction clients’ costs was mainly due to higher interest costs. Interest costs increased by 114.3 percent.
Contractors’ costs in the group ‘transport, fuel and electricity’ increased by 35.1 percent between November 2021 and November 2022. Within that group, the cost of electricity and diesel oil rose the most, by 99.4 percent and 36.7 percent respectively. Contractors’ costs for machinery and overhead costs increased by 16.1 percent and 6.4 percent respectively, while costs for wages and salaries rose by 2.3 percent.
Contractors’ costs of building materials increased by 15.0 percent between November 2021 and November 2022. All costs in the building material groups rose, with the exception of wood products which decreased by 10.0 percent. The costs of reinforcement steel increased the most, by 37.1 percent. The cost of floor material and iron and steel including reinforcement steel increased by 27.5 percent and 23.2 percent respectively.
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 | ||
|---|---|---|---|
| October 2022– November 2022 |
November 2021– November 2022 |
||
| Reinforcement steel | ‑6.0 | +37.1 | |
| Floor material | +0.2 | +27.5 | |
| Iron and steel* | ‑2.9 | +23.2 | |
| Electric material | ‑0.7 | +19.7 | |
| Other building materials** | ‑0.8 | +18.1 | |
| Concrete products | +0.2 | +14.0 | |
| Plumbing material | +0.4 | +12.8 | |
| White goods | +0.5 | +11.3 | |
| Woodwork | +0.3 | +10.1 | |
| Material for painting | +0.0 | +3.7 | |
| Wood products | ‑4.1 | ‑10.0 | |
| Total building materials | ‑0.8 | +15.0 | |
* 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.
Next publishing will be
2023-01-16 08:00.
Statistical Database
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