The downward trend in housing construction in Satakunta is compensated by the growth in business premises construction. In the second quarter of this year, about 60 percent fewer apartments were started than at the same time last year. In the case of other house construction, however, there was still an increase, a total of 16 percent. The information appears in the economic cycle overview of house construction in Satakunta.
"Even though in Satakunta both the general economic outlook and the construction cycle are very much like the rest of Finland, no sudden handbrake turn in the amount of construction in the area is to be expected", states the chief economist of Rakennusteollisuus RT Jouni Vihmo.
"According to preliminary data, in the second quarter of the current year, the annual amount of house construction starts was 1,4 million cubic meters. A year ago at the same time, Satakunta was at a lower level by one percent. The number of building permits granted in the corresponding period was just under 1,5 million cubic meters. These readings are 5 percent higher than the previous year," Vihmo continues.
The total size of Satakunta's construction market is around one billion euros. During the first three quarters of the current year, construction employed an average of 8 people. According to Statistics Finland's labor force survey, employment decreased by 300 people compared to the corresponding average a year ago. Statistics Finland, however, does not take the number of foreign workers into account in the readings.
"Building permit processes in Pori are too long, complicated and laborious. This shouldn't be the case, especially not in a slowing economy," says the regional manager of the building construction industry in Varsinais-Finland and Satakunta. Markku Leppälehto.
According to a survey aimed at various parties in the building industry, builders gave the economic situation of the last six months a good rating. They also estimate that the work to be done will increase during the next six months as well. Despite the decrease in housing production, the builders' camp believes that commercial premises construction will remain unchanged and renovation construction will continue to grow.
The situation received a satisfactory rating from designers and building contractors. Regarding future prospects, the designers were on the same lines as the builders, the most pessimistic were the contractors. All parties still experience the lack of skilled workers and white-collar workers as a challenge, so there will always be plenty of work for professionals who know what they are doing.
More information
- Regional manager Markku Leppälehto, 040 745 3930
markku.leppalehto@rakennusteollisuus.fi - Chief Economist Jouni Vihmo, 050 520 1636
jouni.vihmo@rakennusteollisuus.fi - Data from the business cycle review:
www.rakennusteollisuus.fi/alueelliset-suhdannekatsauset