Y-o-Y prices down for 13 groups of building materials in June

Statistics Centre - Abu Dhabi (SCAD) issued yesterday its monthly report on the prices of building materials for the month of June and the second quarter of 2015, with increases ranging between 0.7 percent for the ‘Steel' group and 8.6 percent for ‘Construction labour costs", while decreases ranged from 0.2 percent for ‘Waterproofing products' and 4.2 percent for ‘Power cables'.

The average wages of ‘Construction labour' grew by 8.6 percent in June 2015 compared with May 2015. Increases in this group ranged between 6.7 percent and 12.5 percent.

The average prices of ‘Pipes (uPVC)' increased by 6.7 percent in June 2015 compared with May 2015, as a result of an increase in all items in this group.

Steel Average steel prices edged up 0.7 percent in June 2015 compared with May 2015.

According to the report, the average prices of ‘Power cable' declined 4.2 percent in June 2015 compared with May 2015, as a result of decreases in all items of this group.

The average prices of ‘Waterproofing products' nudged down 0.2 percent in June 2015 compared with May 2015.

June 2015/2014 SCAD reported decreases in the average monthly prices of 13 groups of building materials during June 2015 compared with June 2014. The falls ranged between 0.4 percent for ‘Transport equipment rents' and 17.3 percent for ‘Waterproofing products'.

‘Waterproofing products' decreased by 17.3 percent in June 2015 compared with June 2014, as a result of a decrease in the prices of most of the item constituting this group.

The average prices of ‘Wires' decreased in June 2015 compared with June 2014: the largest fall was recorded for ‘Wires for residential towers' (down 14.9 percent), followed by ‘Wires for small buildings', (down 9.3 percent), and ‘Wires for apartments' (down 2.0 percent).

The average prices of ‘Steel' dropped 13.3 percent in June 2015 compared with June 2014.

Despite the overall downward trend, some building materials items have seen increases in June 2015 compared with May 2014. These include: False ceilings, Tiles and marble, Aggregates and sand.

The average prices of ‘False ceiling' increased by 5.7 percent in June 2015 compared with June 2014, due to increases in most of the items of this group. The average prices of ‘Tiles and marble' surged 5.4 percent in June 2015 compared with June 2014. The average prices of ‘Aggregates and sand' increased by 2.8 percent in June 2015 compared with June 2014.

Most of the building materials groups recorded higher average prices during Q2 2015 compared with Q1 2015. Increases ranged between 0.5 percent for ‘Cement' and 6.0 percent for the ‘Construction labour'. While the average prices for some groups showed no change in Q2 2015 compared with Q1 2015.

Meanwhile, some groups displayed higher prices in Q2 2015 compared with Q1 2015. These include: ‘Waterproofing products' (down 9.7 percent), ‘Steel' (down 7.7 percent), ‘PVC Pipes' (down 6.0 percent), and ‘Natural stone' (down 3.9 percent).

The average prices of building materials showed mixed trends in Q2 2015 compared with Q2 2014. Increases ranged between 0.1 percent for ‘Concrete' and 6.1 percent for ‘False ceiling', with ‘Tiles and marble' increasing by 4.5 percent, ‘Aggregates and sand' by 2.8 percent and ‘Roofing materials' by 1.7 percent.

A downward trend dominated price change over the period under review, with decreases ranging between 0.4 percent for ‘Transport equipment' and 17.2 percent for ‘Waterproofing products'. Other key significant falls in the prices were observed in the ‘Steel' group (down 13.6 percent) and ‘Wires for residential towers' (down 13.0 percent).