Building material prices in Abu Dhabi creep up in Q2
Statistics Centre – Abu Dhabi, or Scad, on Saturday issued its monthly report on the prices of building materials for the month of June and the second quarter of 2013.
The report presents an analysis of the movements in the prices of the various materials used in the construction industry in the Abu Dhabi retail market, comparing June 2013 prices with those of May 2013 and June 2012.
It also compares prices in the second quarter of 2013 with those prevailing in the first quarter of 2013 and the second quarter of 2012.
Compared with May 2013, the average prices building materials during June 2013 ranged between 0.4 per cent for wood and 15 per cent for construction labour costs, while price falls ranged between 0.3 per cent for transport equipment rents and 6.6 per cent for sanitary ware/bathroom set with accessories.
According to Scad’s report, average construction labour costs grew by 15 per cent in June compared with May 2013, reflecting rises in wages for most trades, ranging from 5.9 to 20 per cent.
The average prices of power cable decreased by 1.6 per cent in June compared with May 2013, reflecting price falls in the all items of this group. The paints group increased by 1.7 per cent in June 2013, as a result of an increase in some items in this group compared with May 2013.
The average price of wires for small buildings and wires for apartments decreased by 5.2 per cent and 0.9 per cent, respectively, while the average price of wires for residential towers increased by 0.8 per cent.
As the report finds, the average prices of the PVC pipes and “uPVC pipes” groups decreased by 4.6 per cent and 2.1 per cent, respectively, in June compared with May 2013, mainly due to the decrease in most of the items composing this groups.
The average prices of bathroom sets with accessories, stainless-steel sinks with mixer-single and bathroom sets without accessories groups decreased by 6.6 per cent, six per cent and 4.7 per cent, respectively, during the same comparable periods.
Price falls were reported for 15 groups of building materials in June 2013 compared with June 2012. The drops ranged from 0.3 per cent for waterproofing products to 13.8 per cent for wires for residential towers.
Scad reported a net fall in the average price of wires in June 2013 compared with June 2012. Wires for residential towers accounted for the largest decrease with 13.8 per cent, followed by wires for small buildings and wires for apartments, which declined by 11.5 per cent and 6.2 per cent, respectively.
The average prices of cement blocks declined 6.8 per cent in June 2013 compared with June 2012.
The average prices of steel retreated by 6.5 per cent year-on-year in June 2013, as a result of increases in most of the items of this group.
On the other hand, the report revealed a 19.5 per cent surge in the average price of the glass group in June 2013 compared with the same month last year.
- Construction meets Sharia: settling disputes the Saudi way
- Six savvy tips for choosing a real estate agent
- 'Selective softening': How Dubai's stabilizing property prices are in no way inclusive
- Abu Dhabi's Louvre: how far has it come and how far will it go?
- Saudi Arabia is getting creative about tacking its housing shortage
- Cluttons Middle East: Abu Dhabi market to end two year stalemate during Q2 2011
- UAE’s residential & commercial transactions remained tentative in Q2 2012
- Abu Dhabi rental market reaches parity with Dubai high end property: Cluttons
- Government initiatives can create momentum in Abu Dhabi’s real estate industry