Building costs rise by 9.4% in Oct

Building costs rose by 9.4 per cent in October 2021 from one year back, according to Statistics Finland.

Compared with the previous month, building costs grew by 0.6 per cent. The growth is now slower than in June to August when the monthly change in the building cost index was 1.6 per cent, on average.

The price of timber fell by 2.9 per cent from the previous month and the price of wood, which grew heavily during the year, seems to have passed its peak.

However, the price level is still as much as 61.9 per cent higher than one year ago.

The costs of materials went up by 13.3 per cent and labour costs by 6.5 per cent from one year ago. The prices of services fell by 0.2 per cent from one year ago.

Labour costs went up by 0.9 per cent and the prices of materials by 0.6 per cent in a month. The prices of services fell by 0.9 per cent in a month.