Construction cost index

For the construction cost index for residential buildings and road construction,bridge construction and sanitary engineering a revision (new basket of goods and a new weighting scheme) was done in 2020. This was necessary to consider the appearing changes in building technologies and techniques as well as new environmental standards and description of construction groups for the calculation of the construction cost index.

The construction cost indices observe the development of costs that construction companies incur when performing construction activities as a result of changes to fundamental costs (materials and labour). Since 1 January 2021, all construction cost indices have been calculated and published taking the average for 2020 = 100 as the base. More detailed explanations of the methods used and information on the base 2020 revision (including baskets of goods and weighting schemes) can be found in “Further information” (available in German only).

Please consult our German website for tables and charts containing further information.

Results and their publication

As with the old index, since January 2021 the new index for construction of residential buildings (base year 2020) has been published as an overall index, subdivided into the Wages and Others cost groups for building contractors’ activities. Also, the indices for road construction,bridge construction and sanitary engineering have – as was the case with the old index – been published as overall indices, further subdivided into the separate cost groups of Wages and Others. In addition, the indices are subdivided into partial indices according to activity groups in accordance with the relevant specifications, and bitumen is identified according to its country of origin.

Initial preliminary results are published 15 days after the end of the month under review, and revised figures are published after 45 days. Exact publication dates for the first and second half of the year can be found in Statistics Austria’s publication calendar (available in German only). Current figures are published monthly in the Statistical Overviews, the database STATCube, in press releases and on the Eurostat website.

Definition 

The construction cost indices observe the development of costs that construction companies incur when performing construction activities as a result of changes to fundamental costs (materials and labour). The construction cost indices are used both as a basis for the evaluation of contracts with escalation clauses and for price alignment in construction contracts, and are available for construction of residential buildings, road construction, bridge construction and sanitary engineering.

Calculation

For both structural and civil engineering, the Laspeyres index formula (fixed basket of goods, fixed weighting) is used for the calculations. Using the index number method, each individual price for a commodity (cost factor) is shown (at current price/base price) by means of an index number (= index number at survey unit level) that can be compared with the corresponding base price (base: 2020 average = 100). These index numbers give an unweighted average index number for each cost factor, with the geometric mean applied instead of the arithmetic mean since the base year 2005. This reflects the general trend in price statistics and international recommendations for this method of calculation.

The index numbers are largely obtained from secondary sources (such as the wholesale price index) or calculated using available price information (from the producer price index, for example, or on the basis of figures collected from primary sources) and aggregated according to the individual weightings for each cost factor. This provides the indices for the individual group indices and the overall index.

In addition, the summary reports 2.12 – Construction cost index for construction of residential buildings and 2.14 – Construction cost index for road and bridge construction and for sanitary engineering are published monthly and are available to download free of charge from “Further information” and “Publications” (available in German only).

More detailed explanations of the methodology can be found in “Further information”.

Results (overview): construction costs index overall construction costs base year 2020
Construction cost index residential buildings base year 2020


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