Value of building plans rises

Posted On Thursday, 16 November 2006 02:00 Published by eProp Commercial Property News
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The value of recorded building plans passed by larger municipalities (at current prices) during the first nine months of this year increased by 13.8% or 6.39 billion rand to 52.677 billion rand, compared with the first nine months of 2005, Statistics South Africa said on Wednesday.

Statistics SAThe largest percentage increase was reported for non-residential buildings - up 31.5% or 2.38 billion rand to 9.947 billion rand - followed by additions and alterations, which rose 13% or 1.571 billion rand to 13.672 billion rand and residential buildings, which were up 9.2% or 2.44 billion rand to 29.058 billion rand, Stats SA said.

Stats SA added that six provinces reported increases in the value of recorded building plans passed, with the largest contributor being Gauteng, followed by KwaZulu-Natal and Mpumalanga.

Stats SA also noted that the total real value of recorded building plans passed has slowed down.  The value of recorded building plans passed by larger municipalities (at constant 2000 prices) during the first nine months of 2006 increased by 5.6%, or 1.814 billion rand, to 33.934 billion rand, compared with the first nine months of 2005, slowing from 8.3% for the year to August 2006 compared with the year to August 2005.

The largest percentage increase was reported for non-residential buildings - up 22.1% - followed by additions and alterations, up 4.9%, and residential buildings - up 1.3%.

The value of building plans passed during the month of September decreased by 19.5%, or 513 million rand - compared with September 2005. However, the seasonally adjusted real value of recorded building plans passed by larger municipalities during the three months ended September decreased by 4.5% compared with the previous three months. Decreases were reported for non-residential buildings (-11.3%), additions and alterations (-5.7%) and residential buildings (-1.4%).

Stats SA also said that the value of buildings reported as completed to larger municipalities (at current prices) during the first nine months of 2006 increased by 26.9%, or 5.5 billion rand, to 26 billion rand compared with the first nine months of 2005.

The largest percentage increase in the value of buildings completed was reported for additions and alterations - up 37.4% - followed by residential buildings, with an increase of 25.5% and non-residential buildings, which were up 20.8%.

 

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