40% decrease in residential building applications

The total value of recorded building plans passed at current prices has decreased, Statistics SA said on Wednesday.

The value of recorded building plans passed by larger municipalities at current prices during January to November 2009 dropped by 23.1 percent or R17,431.6 million compared with January to November 2008, the Pretoria-based agency said.

The largest decrease was reported for residential buildings (-38 percent or R13,920.7 million), followed by non-residential buildings (10 percent or R1764.1 million) and additions and alterations (-8.2 percent or R1746.8 million).

All nine provinces reported decreases in the value of building plans passed. The biggest contributors were Gauteng (-8.9 percentage points or R6747.8 million), Western Cape (6 percentage points or R4531.4 million) and KwaZulu-Natal (-5.2 percentage points or R3901.6 million).

The agency said that the total value of buildings reported as completed at current prices had decreased.

"The value of buildings reported as completed to larger municipalities at current prices during the first eleven months of 2009 decreased by 5.6 percent or R2775.5 million compared with the first 11 months of 2008."

Sapa

Posted at 10:33AM Jan 21, 2010 by Editor in Residential  |