Prices down for 11 groups of building materials in August 2012 Y-o-Y, reports SCAD
- United Arab Emirates: Wednesday, September 19 - 2012 at 15:57
- PRESS RELEASE
Statistics Centre Abu Dhabi (SCAD) issued its monthly report on the prices of building materials for the month of August 2012. The report presents an analysis of the movements in the prices of the various materials used in the construction industry in Abu Dhabi retail market, comparing August 2012 prices with those of July 2012 and August 2011.
According to SCAD's report, the prices of several groups of building materials underwent changes during August 2012 compared with July 2012, with the rises ranging between 0.4% for paints and 14.9% for "construction labour", while declines ranged from 0.7% for "power cables" to 12.4% for "waterproofing products".
The report reveals an increase of 14.9% in the average wages of construction workers, in August compared with July 2012. Rises ranged from 7.1% for electricians to 25.0% for carpenters and metal fixers.
By contrast, prices of the power cables group retreated by 0.7%, as result of the downward movement observed in all of the items constituting this group.
The report also indicates a 2.6% fall in the average monthly prices of the cement group during August compared with July 2012, reflecting a decrease of 21.4% in the price per ton of "Al- Etihad Portland Cement/U.A.E" showing a decrease.
SCAD also reported lower MoM prices for the concrete group, which eased 4.3% in August 2012 compared with July 2012, due to proportional falls in all items of this group.
A 4.4 rise was reported in the average prices of the (PVC) Pipes group due increases in the prices of (PVC Pipes\ 2 inch\ 6m\ U.A.E.) and (PVC Pipes\ 3 inch\ 6m\ U.A.E.) by 16.7% and 11.5%, respectively.
SCAD's report also points to a 4.6% increase in the prices of the roofing materials group during August 2012 compared with July 2012.
Prices of building materials during August 2012 compared with August 2011
As SCAD's report reveals, decreases were recorded in the average monthly prices of 11 groups of building materials during August 2012 compared with August 2011. The falls ranged between 0.9% for "UPVC pipes" group and 25.2% for "wires for residential towers". The "Wires" group displayed one the largest price falls in August 2012 compared with August 2011, led by a 25.2% fall in the price of "wires for residential towers", followed by decreases of 18.1% and 14.7% in the prices of "wires for apartments" and "wires for small buildings", respectively.
The average monthly price of power cables decreased by 11.2% y-o-y in August 2012, displaying price drops in the range of 10.7 - 11.9%. There has been a consistent downward trend in the prices of this group since the beginning of the current year.
On the other hand, rises were recorded in the average prices of certain groups during August 2012 compared with August 2011, including waterproofing products (up 1.2%), reflecting increases in the prices of most of the items constituting this group.
In addition, the average prices of glass and transport equipment increased by 15.2% and 4.1% in August 2012 compared with August 2011.
Finally, the average price of some sanitary ware items ("bathroom set without accessories" and "stainless steel sink with mixer-single" increased by 10.6% and 12.1percent respectively in August 2012, while the price index of 'bathroom set with accessories" was stable compared with August 2011.
The significance of SCAD's building materials price report
SCAD's monthly report of building materials prices report surveys the prices of 21 groups that represent the most important materials used in the construction activity. The dissemination of the report, which presents a wide range of price data, is intended to serve the needs of data users in the public and private sectors for the purposes of research, planning and decision making in ways that support the construction sector as well as related and dependent sectors. The report data can also be used in the compilation of price indices for the construction industry and, therefore, as inputs in the calculation of the GDP at constant prices.
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