Summary
In November 2004 the new housing construction cost index on the mainland rose by 5.0% from the same month in 2003, which represents a slight deceleration of 0.1 percentage point (p.p.) from growth in October. The year-on-year rate of change in the labour component of new housing construction costs rose from 3.0% to 3.4%, while in the material component it fell from 7.3% to 6.9%. The year-on-year change in the housing regular repair and maintenance price index on the mainland was 3.5% in November 2004, up 0.4 p.p. from the previous month. Services and products for housing regular maintenance and repair had year-on-year rates of change of 4.2% and 2.3% respectively in the same period, both up from the previous month.