Construction Cost Index for buildings, September 2024
The annual rate for the Construction Cost Index decreased to 0.7 percent in September
Statistical news from Statistics Sweden 2024-10-15 8.00
The Construction Cost Index for multi-dwelling buildings decreased by 0.7 percent in September compared with August 2024. The annual rate of change in the Construction Cost Index was 0.7 percent in September, compared with the corresponding month in 2023 (1.2 percent in August).
In brief
- The cost of diesel oil decreased by 5.3 percent in September compared with August 2024 and were 35.7 percent lower compared with the corresponding month in 2023.
- Lower costs for building materials contributed to the Contractors’ costs decreasing compared with the previous month.
- The annual rate for costs of reinforcement steel continues to fall.
| Index | Change in percent | |||
|---|---|---|---|---|
| September | August 2024– September 2024 |
September 2023– September 2024 |
||
| Contractors' costs (82%) | 142.4 | ‑0.4 | 1.3 | |
| Construction clients' costs (18%) | 186.0 | ‑1.8 | ‑1.5 | |
| Total Construction cost index (100%) | 150.2 | ‑0.7 | 0.7 | |
Changes in the last month
The Construction Cost Index for multi-dwelling buildings decreased by 0.7 percent between August and September 2024. This decrease was due to the fact that construction clients’ costs decreased by 1.8 percent and contactors’ costs decreased by 0.4 percent. These two groups account for 18 percent and 82 percent, respectively, of the Construction Cost Index.
Costs in the group ‘transport, fuel and electricity’ fell by 1.0 percent. The cost of electricity increased by 1.8 percent, while the costs of diesel oil and transport decreased by 5.3 percent and 1.1 percent respectively. Overhead costs fell by 0.2 percent while costs for wages and salaries and machinery remained unchanged.
Contractors’ costs for building materials decreased by 0.5 percent. The costs of woodwork, plumbing material and electric material decreased the most. The decrease was offset by higher costs of concrete products, wood products and floor materials, which increased slightly.
Construction clients’ costs consist of interest and credit costs, costs for plans, and central administration. The decrease in construction clients’ costs was mostly due to lower interest costs, which fell by 3.5 percent.
Changes in the last year
The Construction Cost Index for multi-dwelling buildings increased by 0.7 percent between September 2023 and September 2024. Contractors’ costs rose by 1.3 percent, which led to an upward contribution to the Construction Cost Index of 1.0 percentage points. Construction clients’ costs decreased by 1.5 percent, which led to an downward contribution to the Construction Cost Index of 0.3 percentage points. The decreased construction clients’ costs was due to lower interest costs, which decreased by 6.4 percent. The remaining construction clients’ costs increased by between 1.9 percent and 4.7 percent.
Contractors’ overhead costs and costs for wages and salaries increased by 3.6 percent and 3.3 percent respectively, while costs for machinery rose by 0.7 percent between September 2023 and September 2024. Contractors’ costs in the group ‘transport, fuel and electricity’ decreased by 16.9 percent. Within that group, the costs of electricity and diesel oil decreased by 37.8 percent and 35.7 percent respectively.
Contractors’ costs of building materials increased by 2.1 percent between September 2023 and September 2024. All costs in the building material groups rose, with the exception of electric material and reinforcement steel, which decreased by 2.0 and 0.3 percent respectively. The costs of wood products and white goods increased the most, by 8.0 percent and 5.6 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 | ||
|---|---|---|---|
| August 2024– September 2024 |
September 2023– September 2024 |
||
| Wood products | +0.2 | +8.0 | |
| White goods | +0.0 | +5.6 | |
| Concrete products | +0.4 | +4.8 | |
| Woodwork | ‑2.0 | +3.7 | |
| Material for painting | 0.0 | +1.9 | |
| Floor material | +0.1 | +1.4 | |
| Iron and steel* | ‑0.0 | +0.9 | |
| Plumbing material | ‑1.5 | +0.9 | |
| Other building materials** | ‑0.4 | +0.8 | |
| Reinforcement steel | ‑0.3 | ‑0.3 | |
| Electric material | ‑1.4 | ‑2.0 | |
| Total building materials | ‑0.5 | +2.1 | |
* Includes reinforcement steel. ** Includes materials for thermal insulation, garbage equipment, gypsum and wood-based boards.
Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax
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
2024-11-15 08.00.
Statistical Database
More information is available in the Statistical Database
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.