Analytics, Construction, Estonia, Statistics

International Internet Magazine. Baltic States news & analytics Tuesday, 16.07.2019, 05:36

Construction price index in Estonia continued a moderate rise

Ülo Paulus, Leading Statistician Economic and Environmental Statistics Department Statistics Estonia, 23.04.2019.Print version
According to Statistics Estonia, the change of the construction price index in the 1st quarter of 2019 was 0.5% compared to the 4th quarter of 2018, and 2.0% compared to the 1st quarter of 2018.

In the 1st quarter of 2019, compared to the same quarter of 2018, the construction price index was primarily affected by an increase in the cost of labour, which accounted for 57% of the total increase of the index.

Compared to the previous quarter, labour costs increased by 1.1% and costs of building materials by 0.3%. The prices of building machines decreased by 0.3% due to lower rental rates for hand tools.

In the 1st quarter of 2019, the change of the repair and reconstruction work price index was 0.6% compared to the 4th quarter of 2018, and 2.4% compared to the 1st quarter of 2018.

The calculation of the construction price index covers four groups of buildings: detached houses, blocks of flats, industrial buildings and office buildings. The repair and reconstruction work price index covers office buildings. The construction price index expresses the change in the expenditures on construction taking into consideration the price changes of three basic inputs: labour force, building materials and building machines.


Change in the construction price index, 1st quarter 2019


 

4th quarter 2018 – 1st quarter 2019, %

1st quarter 2018 – 1st quarter 2019, %

TOTAL

0.5

2.0

labour force

1.1

4.6

building machines

-0.3

2.6

building materials

0.3

0.6

Index of detached houses

0.5

1.8

Index of blocks of flats

0.4

2.0

Index of industrial buildings

0.4

2.0

Index of office buildings

0.3

2.0


Change in the repair and reconstruction work price index, 1st quarter 2019


 

4th quarter 2018 – 1st quarter 2019, %

1st quarter 2018 – 1st quarter 2019, %

TOTAL

0.6

2.4

labour force

1.1

4.9

building machines

0.3

6.5

building materials

0.3

0.3







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