In Jönköping County, construction investments last year amounted to SEK 17 billion, a decrease of five per cent compared with the previous year. And in 2023, the decrease looks set to be significantly larger by 15 percent, which is among the highest increases in the country.
"The main reason is the rising interest rates. This affects households' ability to invest, and as long as interest rates are constantly rising, demand for newly produced homes will fall.
Major differences in the country
In the country as a whole, construction investments are predicted to decrease by 14 per cent in 2023, but the differences between different parts of the country are large. In Stockholm, the decrease is greatest with 18 percent, while investments in Norrbotten instead seem to increase by five percent. The explanation for this is that housing construction has not fallen as sharply there, as well as the major industrial investments that are being made in the area.
Want to keep their staff
According to the Construction Companies, employment in the construction industry will decrease by 21,000 people between 2022 and 2024. But Mia Adelöf believes that construction companies will struggle to retain their staff because it is difficult to find staff with the right skills.
"2023 will be a tough year, but 2024 looks better. In general, construction companies do a lot to keep their staff going, so most people probably try to keep their heads above water. But it is clear that if it hurts financially, you have to act.
So far, however, there have been no more extensive notices from construction companies in Jönköping County, according to Mia Adelöf.
In the clip above, Mia Adelöf explains how she wants the Riksbank and politics to tackle the situation with falling investments.