New home construction costs have increased 2.3% in Julyin homologous terms, with the The cost of materials falls by 1.5% and labor costs increase by 7.7%.the INE announced this Friday.
According to the “New Home Construction Cost Index” of the National Statistics Institute (INE), “in July 2023 it is estimated that the cost of new home construction has increased by 2.3% year-on-year, minus 0.5 points percentages compared to the previous month.” Materials prices varied by -1.5% (-0.7% the previous month), while labor costs increased by 7.7%, 0.2 percentage points less than in June.
The cost of labor contributed with 3.2 percentage points to the formation of the rate of change of the index, as in the previous month, and the materials component with -0.9 percentage points (-0.4 percentage points in June).
According to the INE, among the materials that most negatively affected the variation in the price of aggregates are mild and galvanized steel sheet and bitumen, which showed decreases of around 25% year-on-year, and energy products, steel for concrete and heavy and light profiles and profiles. covering, insulation and waterproofing materials, all with reductions of around 15%.
On the contrary, cement, premixed concrete and paints, primers, primers and varnishes stood out, with year-on-year growth close to 10%.
Compared to the month of June, the rate of change of the index was 0.3% in July, 0.3 percentage points more than the previous month, with an increase in the cost of materials of 0.2% and due to work of 0.4%.
The material and labor components contributed 0.1 and 0.2 percentage points, respectively, to the formation of the monthly variation rate of the index (-0.3 and 0.3 percentage points in June, in the same order).
Source: Observadora
