SA building plans completed up 39.0%
| The value of building plans reported as completed by larger
municipalities in South Africa in the first 11 months of 2005 rose by
39.0% year-on-year (y/y) to 28.7 billion rand, Statistics South Africa
(Stats SA) reported.
This lags considerably the value of building plans passed by larger municipalities, which surged by 53.0% y/y to 62.456 billion rand during the first ten months of 2005. This implies that the current construction boom is set to continue for several quarters yet.
The largest increase in the value of buildings reported as completed was for residential buildings (+46.9%), followed by additions and alterations (+27.1%) and non-residential buildings (+20.2%).
Eight provinces reported increases in the value of buildings completed with the largest y/y increase for Limpopo at 63.0%, while KwaZulu-Natal had a y/y decline of 1.3%.
The largest contributors to the national increase of 39.0% y/y was Gauteng, with a 22.4% contribution, followed by the Western Cape with 11.6%.
South African cement sales y/y growth recovered to a 12.5% increase in December after a 9.9% y/y rise in November, the Cement and Concrete Institute (CNCI) said last week.
This brought the increase for the year to 11.6% to a record 11.935 million tons after a 17.4% rise in 2004 and a 7.0% gain in 2003.
The largest increase in 2004 was reported for residential buildings completed (up 37.5% to 11.313 billion constant 2000 rand), followed by non- residential buildings (up 8.1% to 2.98 billion constant 2000 rand) and additions and alterations (up 7.8% to 3.039 billion constant 2000 rand). The trend series has been rising since November 2003.
Article by: Helmo Preuss - www.eprop.co.za