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Price hikes wave hits construction sector

by Staff reporter
10 Nov 2021 at 05:32hrs | Views
A WAVE of price increases swept across the local housing construction sector, slowing progress of many projects, according to the Zimbabwe National Statistics Agency (ZimStats) 2021 third quarter Building Material Price Index (BPMI).

ZimStats' June to September BPMI rate of change was 13, 80 percent gaining 5, 12 percentage points from June's 8, 68 percent.

The year-on-year BPMI stood at 42,11 percent in September compared to the same time last year. These developments came on the back of a surge in individual housing construction and private sector-led infrastructural development in the country.

The surge in the third quarter index is attributable to the increase in prices of construction material that encompasses bricks, building lime, glazed salt piping, crushed stones, glass, copper pipes, paint, tank, cement, corrugated asbestos, galvanised iron pipes and steel windows.

The period also witnessed a rise in the pricing of wooden doors, nails, softwood pine, river sand, steel door frames, water heater, bolts, switch box, tap board, bison board, sink, locks, electrical cables, lavatory basin, bath shower, wall tiles, vinyl tiles, guttering gauge, and termite poison.

Laminated pine, skirting meranti, skirting pine, parquet blocks, and water-heaters posted a modest increase thereby contributing insignificantly to the BPMI movement.

Low-level suit, pit sand, distributor boxes, conduit pipe, and roof tiles prices declined, thus contributing to the balance of the BPMI.

Source - The Chronicle