Output Building Cost Indices: 3rd Quarter 2023

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  • Create Date October 30, 2023
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Output Building Cost Indices: 3rd Quarter 2023

The annual change in the composite commercial cost index accelerated to an increase of 14.3 percent in 2023Q3, while the deceleration in the residential cost index continued into the 3rd quarter. Input costs, measured by Work Group 180 (Lump sum domestic buildings composite index) published by Stats SA, slowed to an average increase of 4.2 percent in Q3, on par with price inflation in the 2nd quarter. Average output construction cost inflation for office and industrial space increased by between 11 percent and 12 percent y-y in the 1st three quarters of 2023, retail is down 3 percent, while residential construction output cost ended flat.

 

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OUTPUT BUILDING COST INDICES.xlsx