Published: 29 April 2019

Prices of building materials have gone up by 54,28 percent in the first quarter of 2019, a move which will spike construction costs for prospective homeowners, the Zimbabwe National Statistics Agency (Zimstat) has said.

The agency said prices as measured by the Building Material Price Index (BMPI) increased by an average of 110,46 percentage points between the first quarter of 2018 and the first quarter of 2019.

This means that building materials are 110,46 percent higher than they were at the same time one year ago.

The increase of building materials comes amid multi-sectoral price inflations amid a steep rise in the cost of living, resulting in ordinary people bearing the brunt of the declining buying power.

The construction industry will also likely experience a surge in costs driven by price increases for a wide range of building materials.

Zimstat reported price increases on bricks, cement, timber and wood products, roofing materials, electrical goods and materials, allied materials, among others.

"The year-on-year bricks rate of change stood at 121,06 percent gaining 63,33 percentage points on the fourth quarter of 2018 rate of 57,73 percent whilst cement, aggregates and allied materials rate of change was 61,86 percent gaining 64,23 percentage points on the fourth quarter of 2018 rate of -2,37 percent," the report read.

The year-on-year timber and wood products rate of change stood at 101,14 percent gaining 54,24 percentage points on the fourth quarter of 2018 rate of 46,90 percent whilst metal windows and door increased prices by 98,85.

On the part of roofing materials, the sector increased prices by 90,74 percentage points from the 2018 fourth quarter rate of 50,97.

"Sanitary ware and plumbing rate of change stood at 102,52 percent gaining 18,19 percentage points on the fourth quarter of 2018 rate of 84,33 percent."

Meanwhile, the flooring materials stood 30,48 percent while paint and glass rate of change stood at 119,15 percent gaining 7,23 percentage points on the fourth quarter of 2018 rate of 111,92 percent.

Electrical goods and materials rate of change was 125,35 percent gaining 97,62 percentage points on the fourth quarter of 2018 rate of 27,73 percent whilst Others stood at 167,13 percent gaining 115,73 percentage points on the fourth quarter of 2018 rate of 51,41 percent.

Other products important to the construction industry such as fuel have for the last quarter also experienced significant price increases which also surged costs of construction in the country.

Fuel prices have increased for the fourth time in just over three weeks, amid a serious shortage of both petrol and diesel that has left motorists stranded.
- zbc