The decrease of construction price index continues
According to Statistics Estonia, in the 1st quarter of 2010 the percentage change of the construction price index was -7.1% compared to the 1st quarter of 2009. The construction price index fell for five quarters in succession.
The fall of the construction price index in the 1st quarter was mainly influenced by the decrease in the labour costs. The price indices of building machines and building materials are also in the falling trend.
In the 1st quarter of 2010 compared to the 4th quarter of 2009, the change of the construction price index was -1.1%, mainly influenced by the decrease in the labour costs.
In the 1st quarter of 2010 the percentage change in the repair and reconstruction work price index was -1.1% compared to the 4th quarter of 2009 and -6.9% compared to the 1st quarter of 2009.
The calculation of the construction price index covers four groups of buildings — detached houses, blocks of flats, industrial buildings and office buildings, as well as office buildings covered by the repair and reconstruction work price index. The index expresses the change in the expenditures on construction taking into consideration the price changes of basic inputs (labour force, building materials and building machines).
| 4th quarter 2009 – 1st quarter 2010, % | 1st quarter 2009 – 1st quarter 2010, % | |
|---|---|---|
| TOTAL | -1.1 | -7.1 |
| labour force | -2.8 | -13.1 |
| building machines | 0.0 | -2.7 |
| building materials | -0.5 | -5.0 |
| Index of detached houses | -0.9 | -6.2 |
| Index of blocks of flats | -1.1 | -7.1 |
| Index of industrial buildings | -1.0 | -7.0 |
| Index of office buildings | -1.1 | -7.4 |
| 4th quarter 2009 – 1st quarter 2010, % | 1st quarter 2009 – 1st quarter 2010, % | |
|---|---|---|
| TOTAL | -1.1 | -6.9 |
| labour force | -2.3 | -12.6 |
| building machines | 0.7 | 0.0 |
| building materials | -0.8 | -4.4 |