Building costs rise by 10.2% in Dec

Building costs rose by 10.2 per cent in December 2021 from one year back, according to Statistics Finland.

The costs of materials went up by 14.8 per cent and labour costs by 6.5 per cent year-on-year. The prices of services were on level with the previous year.

From November to December, the total index of building costs rose by 0.3 per cent.

The prices of materials went up by 0.5 per cent. The prices of labour inputs and services remained unchanged from the previous month in December.

The price of timber has continued declining since the turn in October 2021, and from November to December it fell by 4.4 per cent. Despite this, the price of timber was still 50.7 per cent higher at the end of 2021 than one year earlier.