Building costs rise by 9.6% in Nov

Building costs rose by 9.6 per cent in November 2021 from one year back, according to Statistics Finland.

The costs of materials went up by 13.7 per cent and labour costs by 6.5 per cent year-on-year.

The prices of services fell slightly during the year, by 0.1 per cent.

From October to November, the total index of building costs rose by 0.3 per cent. The prices of materials went up by 0.5 per cent and those of services by 0.1 per cent from the month before. The prices of labour inputs remained on level with the previous month.

The price of timber made a moderate downturn in October. From October to November, it fell further by 2.6 per cent.

However, the price of timber is as much as 57.4 per cent higher than one year ago. So far, the recovery of prices from the peak figures seems to be very slow.