Bitter for house builders

Construction prices continue to rise this year

(Bild: jozsitoeroe - stock.adobe.com)

In the first three months of this year, construction prices rose by two percent compared to the first quarter of 2023.

Compared to the first quarter of 2023, construction prices rose by two percent in the first three months of this year, compared to 1.2 percent in the previous quarter. However, inflation is at least below the level of general inflation.

To put this into perspective: in April, general inflation rose by 3.5 percent year-on-year, compared to 4.1 percent in March and 4.3 percent in the previous quarter. The construction price index for building construction as a whole rose to 136.9 points in the first quarter of 2024, up 2.5% on the same quarter of the previous year and 1.9% on the previous quarter.

In building construction, higher prices for construction services such as natural and artificial stone work, coatings on wood, metal, masonry, plaster, concrete, lightweight panels as well as electrical installations and gas and water installations were the main contributors to the price increases. Civil engineering prices rose to 104.1 index points this quarter, up one percent on the same quarter of the previous year and 0.2 percent on the previous quarter, Statistics Austria reported on Friday.