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Building material prices down in January: SCAD

Statistics Centre Abu Dhabi (SCAD) on Wednesday reported that year-on-year prices for building materials in January 2014 were down over those recorded in January 2013.

Building materials price rises in January 2014 ranged between 0.4 per cent for PVC pipes and 1.1 per cent for wires for apartments, while price falls ranged between 0.3 per cent for transport equipment rents and 4.6 per cent for construction labour costs. — Bloomberg

SCAD’s monthly report on the prices of building materials surveys the prices of 21 groups of commodities and services that represent the most important materials used in the construction activity, including cement, aggregate, sand, wood, steel, concrete and cement blocks. 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 January 2014 prices with those of December and January 2013.

Lower prices were recorded for 13 building material groups during January 2014 compared with January 2013. Decreases ranged between 0.2 per cent for false ceilings and 9.9 per cent for wires for apartments. Average prices of the steel group decreased by 5.8 per cent in January 2014 compared with January 2013. The average prices of wires retreated significantly in January 2013 compared with January 2012. Price falls in this group were led by wires for residential towers, which tumbled 11.9 per cent, followed by wires for apartments (down 8.7 per cent) and wires for small buildings (down 8.2 per cent).

The average prices of cement blocks declined by 8.4 per cent in January 2014 compared with January 2013. The average prices of PVC pipes decreased by 9.4 per cent in January 2014 compared with January 2013, while the average prices of uPVC pipes increased by 0.9 per cent during January 2014. The average prices of aggregates and sand surged by 17.4 per cent in January 2014 compared with January 2013, as most items in the group recorded increases of 5.9 to 40 per cent. The average prices of the natural stone group climbed 18 per cent in January 2014 compared with January 2013. The average prices of wood increased by 6.9 per cent in January 2014 compared with January 2013.

Compared with December in 2013, building materials price rises in January 2014 ranged between 0.4 per cent for PVC pipes and 1.1 per cent for wires for apartments, while price falls ranged between 0.3 per cent for transport equipment rents and 4.6 per cent for construction labour costs.

— business@khaleejtimes.com