Y-o-Y prices down for 15 groups of building materials in July

The Statistics Centre - Abu Dhabi, SCAD, yesterday issued its monthly report on the prices of building materials for the month of July 2015 compared with June 2015 and July 2014.

The monthly publication of Materials Price Statistics is of special significance, since building material prices represent important economic indicators for planning, says SCAD, adding that they can also be used in the compilation of price indices for the construction sector as well as in the compilation of the GDP at current prices.

The report specifies price changes for 21 groups of key building materials for policy makers and researchers in planning and decisions support in the construction activity and related sectors.

As SCAD's report finds, varying changes were observed in the average prices of building materials groups during July 2015 compared with June 2015, with increases ranging between 0.2 percent for the Wires for small buildings group and 7.8 percent for Construction labour, while decreases ranged from 2.1 percent for PVC pipes to 4.3 percent for the Pipes (uPVC) group were recorded.

The average wages of Construction labour grew by 7.8 percent in July 2015 compared with June 2015. Increases in this group ranged between 6.7 percent and 13.6 percent.

The average prices of false ceilings increased by 6.7 percent in July 2015 compared with June 2015, as a result of increases in most of the items of this group. The average prices of Waterproofing products advanced 3.7 percent in July 2015 compared with June 2015.

On the other hand, the average prices of uPVC Pipes declined 4.3 percent in July 2015 compared with June 2015, as a result of falls in all items in this group by 3.0 percent - 6.2 percent.

The average prices of Power cables declined 3.4 percent in July 2015 compared with June 2015, as a result of decreases in all items of this group. Average steel prices decreased 3.1 percent in July 2015 compared with June 2015.

SCAD reported decreases in the average monthly prices of 15 groups of building materials during July 2015 compared with July 2014. The falls ranged between 0.4 percent for Transport equipment rents and 15.6 percent for the Steel group. The average prices of Steel dropped 15.6 percent in July 2015 compared with July 2014.

As the report finds, Waterproofing products decreased by 14.3 percent in July 2015 compared with July 2014, as a result of decreases in the prices of most of the item constituting this group. The average prices of Power cables declined 13.5 percent in July 2015 compared with July 2014, as a result of decreases in all items of this group.

Despite the overall downward trend, some groups of building materials have seen increases in July 2015 compared with July 2014. These include the average wages of construction labour increased by 17.4 percent in July 2015 compared with July 2014, as a result of increases in all items in this group. The average prices of False ceilings advanced by 12.9 percent in July 2015 compared with July 2014, due to increases in most of the items of this group over the specified period. The average prices of Tiles and marble surged 5.4 percent in July 2015 compared with July 2014.