The construction cost of most non-residential buildings in the United States fell in 2024. That came after construction prices soared between 2021 and 2023. In 2022, the price of building a warehouse rose the most, with a growth rate of over **** percent. Before that, the price increases had been relatively steady. The cost of construction trades in the U.S. has increased at a slower rate in 2024.

Building materials made of steel, copper and other metals had some of the highest price growth rates in the U.S. in the first half of 2025 in comparison to the previous year. The growth rate of the cost of several construction materials was slightly lower than in late 2024. It is important to note, though, that the figures provided are Producer Price Indices, which cover production within the United States, but do not include imports or tariffs. This might matter for lumber, as Canada's wood production is normally large enough that the U.S. can import it from its neighboring country. Construction material prices in the United Kingdom Similarly to these trends in the U.S., at that time the price growth rate of construction materials in the UK were generally lower 2024 than in 2023. Nevertheless, the cost of some construction materials in the UK still rose that year, with several of those items reaching price growth rates of over **** percent. Considering that those materials make up a very big share of the costs incurred for a construction project, those developments may also have affected the average construction output price in the UK. Construction material shortages during the COVID-19 pandemic During the first years of the COVID-19 pandemic, there often were supply problems and material shortages, which created instability in the construction market. According to a survey among construction contractors, the construction materials most affected by shortages in the U.S. during most of 2021 were steel and lumber. This was also a problem on the other side of the Atlantic: The share of building construction companies experiencing shortages in Germany soared between March and June 2021, staying at high levels for over a year. Meanwhile, the shortage of material or equipment was one of the main factors limiting the building activity in France in June 2022.

Construction Output Price Indices (OPIs) from January 2014 to December 2024, UK. Summary.

Building construction price indexes (BCPI), percent change, by type of building and construction division. Quarterly data are available from the first quarter of 1982. The table presents quarter-over-quarter and year-over-year percentage changes for various aggregation levels. The base period for the index is (2017=100).

This table contains monthly figures on the input price index of new dwellings; input price indices building costs to monitor the costs of new dwellings (labour and materials) in the Netherlands.

An input price index is determined on the basis of price changes of the various cost components making up the product - in this case a new dwelling. Changes in the prices of building equipment (tools and machinery), general costs, profit and risk are not included in the input price index. Other cost components, such as energy and transport, are also not taken into account as their influence on the final cost price is relatively modest. Land costs are also not included in the index.

Data available from: January 2012 to December 2023

Status of the figures: The figures of the wages and total building costs are definite up to and including the year 2022. The figures of the building materials are definite up to and including six months from the most recent reported month. The data for 2023 is provisional. Since this table has been discontinued, the data is no longer finalized.

Changes as of February 29, 2024 The index number series in this table use 2015 as the reference year (2015=100). To ensure that the results of the index series are more in line with current events, a so-called base shift is implemented once every five years. Due to the implementation of FRIBS (Framework Regulation Integrating Business Statistics) in 2021, this time the base shift is postponed by one year to 2021=100. The subsequent base shift will return to a regular year, namely 2025=100. Upon the publication of the reporting period of January 2024, such a base shift will occur, and the reference year will be switched to 2021 (2021=100). The index series with the reference 2021=100 will be published in new StatLine tables. This table will be discontinued from that moment and will no longer be updated. However, it will remain available in the archive. The new tables for 2021=100 will commence with the reporting month of January 2018.

Changes as of March 11, 2024 This table has been discontinued. This table is followed by New dwellings; input price indices building costs 2021=100. See paragraph 3.

Building construction price indexes (BCPI) by type of building. Quarterly data are available from the second quarter of 1982. The table presents quarter-over-quarter and year-over-year percentage changes for various aggregation levels. The base period for the index is (2017=100).

Italy - Construction cost index was EUR114.10 points in December of 2023, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Italy - Construction cost index - last updated from the EUROSTAT on August of 2025. Historically, Italy - Construction cost index reached a record high of EUR114.70 points in December of 2022 and a record low of EUR47.70 points in March of 1990.

With 2020 as the base year, the construction cost index in South Korea stood at around 129.7 in August 2024. The index has seen a near continuous rise in the last two years.

Graph and download economic data for Producer Price Index by Commodity: Special Indexes: Construction Materials (WPUSI012011) from Jan 1947 to May 2025 about materials, construction, commodities, PPI, inflation, price index, indexes, price, and USA.

Colombia Construction Cost Index: Buildings: And It Is data was reported at 136.330 Dec2021=100 in Mar 2025. This records an increase from the previous number of 135.270 Dec2021=100 for Feb 2025. Colombia Construction Cost Index: Buildings: And It Is data is updated monthly, averaging 126.370 Dec2021=100 from Jan 2022 (Median) to Mar 2025, with 39 observations. The data reached an all-time high of 136.330 Dec2021=100 in Mar 2025 and a record low of 104.763 Dec2021=100 in Jan 2022. Colombia Construction Cost Index: Buildings: And It Is data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.EA011: Construction Cost Index: Buildings: by Inputs: Dec2021=100.

The construction output price in the United Kingdom has reached an annual growth rate of two percent in September 2024. Construction costs have been increasing at a lower rate than in 2022 and 2023. The year-over-year growth rate reached over ** percent in May and June of 2022. Public and private housing was the construction segment with the highest output price increase. How have material costs developed over the years? Several factors influence construction material costs, including supply and demand, regulatory requirements, and transportation logistics. Manufacturing efficiency and global trade policies also play a big part, along with economic factors like inflation and currency fluctuations. In June 2022, the price of construction materials for new houses in the UK were ** percent higher than in 2015. What is the largest component of those costs? Labor costs are often one of the largest expenses in construction projects. That is due to the skilled nature of the work, which has a high demand for specialized trades. The construction sector's labor costs accounted for around ** percent of the sector's earnings in the United Kingdom in 2023. In the past years, the size of labor costs as a share of the construction sector rose by more than ***** percentage points, indicating that labor costs have increased at a faster rate than the overall revenue of the industry.

Graph and download economic data for Producer Price Index by Industry: Building Material and Supplies Dealers (PCU44414441) from Dec 2003 to Jun 2025 about dealers, materials, supplies, buildings, PPI, industry, inflation, price index, indexes, price, and USA.

Greece - Construction cost of new residential buildings was 4.00 % year-on-year in March of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Greece - Construction cost of new residential buildings - last updated from the EUROSTAT on August of 2025. Historically, Greece - Construction cost of new residential buildings reached a record high of 9.60 % year-on-year in September of 2022 and a record low of -0.10 % year-on-year in June of 2020.

Montenegro New Dwellings: Avg Price: Construction Works: Coastal Region data was reported at 1,532.000 EUR/sq m in Dec 2024. This records a decrease from the previous number of 1,593.000 EUR/sq m for Sep 2024. Montenegro New Dwellings: Avg Price: Construction Works: Coastal Region data is updated quarterly, averaging 987.500 EUR/sq m from Mar 2018 (Median) to Dec 2024, with 28 observations. The data reached an all-time high of 1,710.000 EUR/sq m in Jun 2024 and a record low of 827.000 EUR/sq m in Sep 2022. Montenegro New Dwellings: Avg Price: Construction Works: Coastal Region data remains active status in CEIC and is reported by Statistical Office of Montenegro. The data is categorized under Global Database’s Montenegro – Table ME.EB003: New Dwellings Average Price.

Bulgaria - Construction cost of new residential buildings was 2.90 % year-on-year in March of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Bulgaria - Construction cost of new residential buildings - last updated from the EUROSTAT on August of 2025. Historically, Bulgaria - Construction cost of new residential buildings reached a record high of 67.10 % year-on-year in September of 2022 and a record low of 1.30 % year-on-year in September of 2020.

In the first quarter of 2025, San Francisco, Chicago, New York, and Honolulu were some of the U.S. cities with the highest housing construction costs. Meanwhile, Phoenix had one of the lowest construction costs for high-end multifamily homes at 190 U.S. dollars per square foot and Las Vegas for single-family homes between 240 and 480 U.S. dollars per square foot. Construction cost disparities As seen here, the construction cost for a high-end multi-family home in San Francisco in the first quarter of 2024 was over twice more expensive than in Phoenix. Meanwhile, there were also great differences in the cost of building a single-family house in New York and in Portland or Seattle. Some factors that may cause these disparities are the construction materials, installation, and composite costs, differing land values, wages, etc. For example, although the price of construction materials in the U.S. was rising at a slower level than in 2022 and 2023, several materials that are essential in most construction projects had growth rates of over five percent in 2024. Growing industry revenue Despite the economic uncertainty and other challenges, the size of the private construction market in the U.S. rose during the past years. It is important to consider that supply and demand for housing influences the revenue of this segment of the construction market. On the supply side, single-family home construction fell in 2023, but it is expected to rise in 2024 and 2025. On the demand side, some of the U.S. metropolitan areas with the highest sale prices of single-family homes were located in California, with San Jose-Sunnyvale-Santa Clara at the top of the ranking.

Ireland - Labour cost index: Construction was 16.50 % year-on-year in December of 2022, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Ireland - Labour cost index: Construction - last updated from the EUROSTAT on August of 2025. Historically, Ireland - Labour cost index: Construction reached a record high of 34.90 % year-on-year in June of 2022 and a record low of -15.00 % year-on-year in June of 2020.

Colombia Construction Cost Index: Bldg: Hospital & Care Center: Bucaramanga data was reported at 103.044 Dec2021=100 in Feb 2022. This records an increase from the previous number of 101.681 Dec2021=100 for Jan 2022. Colombia Construction Cost Index: Bldg: Hospital & Care Center: Bucaramanga data is updated monthly, averaging 102.362 Dec2021=100 from Jan 2022 (Median) to Feb 2022, with 2 observations. The data reached an all-time high of 103.044 Dec2021=100 in Feb 2022 and a record low of 101.681 Dec2021=100 in Jan 2022. Colombia Construction Cost Index: Bldg: Hospital & Care Center: Bucaramanga data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.EA007: Construction Cost Index: Buildings: Dec2021=100.

Netherlands - Construction cost of new residential buildings was 2.40 % year-on-year in March of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Netherlands - Construction cost of new residential buildings - last updated from the EUROSTAT on August of 2025. Historically, Netherlands - Construction cost of new residential buildings reached a record high of 10.10 % year-on-year in June of 2022 and a record low of 2.00 % year-on-year in December of 2020.

China Construction: Project Cost data was reported at 24,632,363.170 RMB mn in 2022. This records an increase from the previous number of 24,139,114.125 RMB mn for 2021. China Construction: Project Cost data is updated yearly, averaging 4,797,161.861 RMB mn from Dec 1993 (Median) to 2022, with 30 observations. The data reached an all-time high of 24,632,363.170 RMB mn in 2022 and a record low of 265,141.530 RMB mn in 1993. China Construction: Project Cost data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Construction Sector – Table CN.EE: Construction Enterprise: All.