Informations Rapides ·
29 February 2024 · n° 57
In Q4 2023, prices of buildings' maintenance and improvement works were up by 0.4%
over a quarter and by 3.2% over a year Buildings maintenance and improvement price index - fourth quarter 2023
Moderate rise over a quarter
In Q4 2023, buildings’ maintenance and improvement work prices –IPEA– went moderately up over a quarter (+0.4% after +0.3% in Q3 2023 and +0.2% in Q2 2023), with a more pronounced rise in the non-residential sector (+0.6% after +0.4%) than in the residential sector (+0.2% after +0.3%).
Prices sped up for “other construction installation” (+1.3% after +0.5%), electrical installation (+0.9% after +0.1%) and painting and glazing (+0.8% after +0.5%). They rose at a rhythm close from that of the previous quarter in roofing (+0.6% after +0.5%) and floor and wall covering (+0.6% after +0.7%). They bounced back in “other specialised construction activities” (+0.5% after -0.2%).
Prices rose more modestly in plumbing, heat and air-conditioning installation (+0.2% after +0.5%) and were virtually stable in plastering (+0.1% after +0.9%).
Finally, prices fell back in joinery installation this quarter (-0.4% after +0.6%).
Slowdown over a year
Year on year, buildings' maintenance and improvement work prices slowed down for the fifth quarter in a row (+3.2% in Q4 2023 after +4.4% in the previous quarter). The price rise over a year was more marked in the non-residential sector (+3.8%) than in the residential sector (+2.9%).
Over a year, prices slowed down for the majority of work categories: they sped up only for “other construction installation” (+6.3% after +4.1%) and for electrical installation (+4.1% after +3.7%).
The rise of prices was still marked in plumbing, heat and air-conditioning installation (+4.2% after +5.1%), painting and glazing (+4.1% after +5.0%), plastering (+4.0% after +5.9%), roofing (+3.8% after +5.2%), as well as in floor and wall covering (+3.3% after +4.8%).
Prices rose more moderately for joinery installation (+1.7% after +5.1%) and for the “other specialised construction activities” (+1.3% after +3.0%).
Revisions
The quarterly change in the IPEA for the third quarter of 2023 is confirmed (after rounding), at +0.3%.
tableauBuildings' maintenance and improvement work price index
| IPEA | IPEA residential | IPEA non residential | |
|---|---|---|---|
| 2023-Q4 | 127.6 | 128.0 | 127.0 |
| 2023-Q3 | 127.1 | 127.7 | 126.2 |
| 2023-Q2 | 126.7 | 127.3 | 125.7 |
| 2023-Q1 | 126.5 | 127.3 | 125.2 |
| 2022-Q4 | 123.7 | 124.4 | 122.4 |
| 2022-Q3 | 121.7 | 122.2 | 120.9 |
| 2022-Q2 | 119.3 | 119.6 | 118.9 |
| 2022-Q1 | 116.3 | 116.4 | 116.3 |
| 2021-Q4 | 112.8 | 112.5 | 113.2 |
| 2021-Q3 | 110.7 | 110.7 | 110.8 |
| 2021-Q2 | 109.3 | 109.3 | 109.3 |
| 2021-Q1 | 107.2 | 107.2 | 107.2 |
| 2020-Q4 | 105.6 | 105.7 | 105.4 |
| 2020-Q3 | 105.4 | 105.5 | 105.3 |
| 2020-Q2 | 105.4 | 105.5 | 105.3 |
| 2020-Q1 | 105.1 | 105.2 | 105.1 |
| 2019-Q4 | 104.7 | 104.8 | 104.6 |
| 2019-Q3 | 104.5 | 104.6 | 104.5 |
| 2019-Q2 | 104.3 | 104.4 | 104.2 |
| 2019-Q1 | 104.0 | 104.1 | 103.8 |
| 2018-Q4 | 103.1 | 103.2 | 103.0 |
| 2018-Q3 | 103.1 | 103.0 | 103.1 |
| 2018-Q2 | 103.0 | 103.0 | 102.9 |
| 2018-Q1 | 102.6 | 102.8 | 102.2 |
| 2017-Q4 | 102.0 | 102.2 | 101.8 |
| 2017-Q3 | 101.8 | 102.0 | 101.4 |
| 2017-Q2 | 101.6 | 101.7 | 101.4 |
| 2017-Q1 | 101.4 | 101.4 | 101.4 |
| 2016-Q4 | 101.0 | 101.0 | 101.2 |
| 2016-Q3 | 100.9 | 100.8 | 100.9 |
| 2016-Q2 | 100.8 | 100.7 | 100.9 |
| 2016-Q1 | 100.5 | 100.4 | 100.6 |
| 2015-Q4 | 100.0 | 100.0 | 100.0 |
| 2015-Q3 | 100.1 | 100.1 | 100.1 |
| 2015-Q2 | 100.0 | 100.0 | 100.0 |
| 2015-Q1 | 99.9 | 99.9 | 100.0 |
graphiqueBuildings' maintenance and improvement work price index
- Source: INSEE.
tableauBuildings’ maintenance and improvement work price index
| Weights (in %) | Q4 2023 | Q/Q-1 (1) | Q/Q-4 (2) | |
|---|---|---|---|---|
| Buildings maintenance and improvement work price index (IPEA) | 100.0 | 127.6 | 0.4 | 3.2 |
| Residential buildings | 62.4 | 128.0 | 0.2 | 2.9 |
| Non-residential buildings | 37.6 | 127.0 | 0.6 | 3.8 |
| All buildings by type of work | ||||
| 4321 - Electrical installation | 18.3 | 120.2 | 0.9 | 4.1 |
| 4322 - Plumbing. heat and air-conditioning installation | 20.1 | 129.9 | 0.2 | 4.2 |
| 4329 - Other construction installation | 5.8 | 113.0 | 1.3 | 6.3 |
| 4331 - Plastering | 3.3 | 135.8 | 0.1 | 4.0 |
| 4332 - Joinery installation | 18.2 | 139.5 | -0.4 | 1.7 |
| 4333 - Floor and wall covering | 4.2 | 121.2 | 0.6 | 3.3 |
| 4334 - Painting and glazing | 7.4 | 119.6 | 0.8 | 4.1 |
| 4391 - Roofing | 5.9 | 139.3 | 0.6 | 3.8 |
| 4399 - Other specialised construction activities | 16.7 | 124.2 | 0.5 | 1.3 |
- (1) index of the last quarter compared to that of the previous quarter (in %)
- (2) index of the last quarter compared to that of the same period of the previous year (in %)
- Source: INSEE
For more information
The buildings’ maintenance and improvement work price index (IPEA) is a quarterly index which measures the evolution of prices (net of taxes) charged by construction enterprises (including artisanal forms) for their maintenance and improvement works in residential and non-residential buildings during the quarter under review.
The IPEA indices are not seasonally nor working-day adjusted.
Next issue: 31 May 2024 at 12.00 p.m.
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