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Published: 15 July 2021

Rising of prices of building materials continued fast in June

According to Statistics Finland, building costs rose by 4.2 per cent in June 2021 from the previous year. The prices of materials went up by 5.5 per cent and labour costs by 3.5 per cent from the year before. The prices of services remained unchanged from the previous year.

Long term development of the Building Cost Index

Prices rose for nearly all building materials, but the price development of steel products and timber has accelerated particularly for several months already. The exceptional speed of price changes in building materials is indicated by that the monthly change in materials was record high in June, 2.3 per cent. The last time the prices of materials went up sharply was in 2007, when the month-on-month change was 1.5 per cent.

From May to June, the total index of building costs rose by 1.2 per cent and prices of services by 0.1 per cent. The labour costs remained unchanged from the previous month.

Building cost index 2015=100, June 2021

Professional construction of new buildings		Weights	Index	Monthly change, %	Annual change, %
Total index		1000	108.0	1.2	4.2
By type of cost	Labour inputs	400	105.5	0.0	3.5
	Materials	510	110.9	2.3	5.5
	Services	90	103.1	0.1	0.0
By purpose of use	Residential building	440	108.3	1.2	4.5
	Other building construction	560	107.8	1.1	4.0

Source: Building cost index, Statistics Finland

Inquiries: Liina Arhosalo 029 551 3612, Merja Järvinen 029 551 2458, info@stat.fi

Head of Department in charge: Hannele Orjala

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Appendix tables

• Appendix table 1. Input indices 2015=100, June 2021 (15.7.2021)
• Appendix table 2. Residential building 2015=100, June 2021 (15.7.2021)

Figures

• Appendix figure 1. Input indices 2015=100, largest annual changes, per cent (15.7.2021)
• Appendix figure 2. Index clause sub-indices P 2000=100 (15.7.2021)

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Updated 15.07.2021