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Thursday, 28 March, 2024
Home BUSINESSGranted building permits’ cubic volume falls in Q1
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Sat, 28 May, 2016 12:07:16 AM
FTimes Report, May 28
 
Granted building permits and building starts, mil. m3, moving annual total. Source: Building and dwelling production, Statistics Finland.
Building permits were granted for a total of 7.5 million cubic metres in the first quarter of 2016, which is 3.3 per cent lower than one year ago, according to Statistics Finland's data.
 
The cubic volumes of building permits granted for industrial and warehouse buildings, and commercial and office buildings affected the drop in the total volume.
 
Measured by volume, more building permits were still granted for residential buildings than one year previously.
 
In January to March, building permits were granted for a total of 2.4 million cubic metres of residential building projects, which is 12.5 per cent more than one year earlier.
 
Granted building permits for residential buildings, mil. m3, moving annual total. Source: Building and dwelling production, Statistics Finland.
The growth came from building permits granted for terraced houses and block of flats. Altogether, 2.9 per cent fewer building permits were granted for detached houses than one year earlier.
 
A total of 8,100 building permits were granted for residential buildings in the first quarter.
 
The number of permits granted for residential buildings went up by 24.8 per cent from one year ago.
 
Volume index of newbuilding 2010=100, trend. Source: Building and dwelling production, Statistics Finland.
The constant-price value or the volume of ongoing building production went up by 11.2 per cent year-on-year in the first quarter.
 
The volume of construction of residential buildings increased over the period by 13.6 per cent and that of other than residential building construction by 9.2 per cent from one year back.
 
Measured by volume, 16.5 per cent more of all building projects and 23.5 per cent more residential building projects were started than one year earlier.
 
The large cubic volume of building permits granted during late 2015 for residential building, especially for blocks of flats, now affects both started building projects and the new building volume index.
 
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