Building costs rise by 6.2% in Sep Y-on-Y

Building costs rose by 6.2 per cent in September 2022 from one year back, according to Statistics Finland.

Among materials, the biggest increases in the year were recorded in steel structures (17.7%) and heat insulation (23.5%).

The fall in the costs of timber structures continued and the change from the previous year was minus 9.1 per cent.

The costs of materials rose by 10.3 per cent while labour costs went up by 1.3 per cent from one year back.

The prices of services increased by 2.7 per cent.

The total index went up by 0.1 per cent from the month before.

Of services, transport increased most (12.1%) and site energy decreased most (minus 8.0%). In addition to electricity prices, site energy comprises the electrification of the site.