Building costs rise by 9.3% in Sep

Building costs rose by 9.3 per cent in September this year compared with the previous year, according to Statistics Finland.

The costs of materials went up by 13.2 per cent and labour costs by 6.1 per cent from one year ago. The prices of services rose by 1.2 per cent.

The rise in labour costs in September was due to a contractual pay increase in several industries of construction. The costs of materials were mostly influenced by the continuing high price level of timber.

From August to September, the total index of building costs grew by 0.9 per cent. The costs of materials and labour costs both rose by 1.0 per cent in a month. The prices of services remained unchanged from the previous month.