Price indices for the construction industry

Price indices for the construction industry shed light on the relevant inflation trends from different perspectives. The most common indices are those of the prices of construction operations. They reflect the development of the producer prices of construction companies for traditionally constructed buildings and other structures. However, more indices are in place for the construction industry.

• Construction price index for residential buildings in August 2014 : + 1.7 % on a year earlier

Indices of construction operation prices: development of the producer prices of construction companies for traditionally constructed buildings (residential buildings, office buildings, industrial buildings), civil engineering (roads, bridges and sewers), maintenance of residential buildings, and creation of outdoor installations of residential buildings.

Residential property price indices

Residential property price indices show the trends in the prices of newly built owner-occupied houses or flats – acquired either as a self-builder or by purchasing a prefabricated house or a turn-key house (owner-occupied housing price indices). In addition, they reflect the development of expenditure associated with the acquisition or ownership of dwellings, and movements in the prices of newly built turn-key or existing residential buildings (house price index). The house price index reflects trends in the prices of residential property in the case of which the building and land is sold as a package.

Residential property price indices were developed in the context of a multi-stage project, which was launched in 2002 and co-financed by the Statistical Office of the European Communities (Eurostat) with the aim of covering owner-occupied housing in terms of price statistics. The project was concluded successfully at the end of 2011. The Federal Statistical Office had been involved in the project from the very beginning. Early in 2012, the implementation phase started, which is also co-funded by the European Union and during which a system of quarterly and timely reports on residential property price indices is to be established.