No recovery yet

The value of recorded building plans passed by larger municipalities at current prices during January to August 2009 decreased by 27.3 percent compared with the same period last year, Statistics SA said on Wednesday.

The largest decrease was reported for residential buildings (-44.9 percent), followed by additions and alterations (-11 percent) and non-residential buildings (-7.3 percent), the Pretoria-based agency said.

"All nine provinces reported decreases in the value of building plans passed during January to August 2009," Statistics SA said.

The biggest contributors to the decrease of 27.3 percent were Gauteng (contributing -9.6 percentage points), KwaZulu-Natal (-7.9 percentage points) and Western Cape (-6.2 percentage points).

Statistics SA said the value of buildings reported as completed to larger municipalities at current prices during the first eight months of 2009 decreased by 1.4 percent compared with the first eight months of 2008.

The decrease of 1.4 percent was due to a decrease reported for residential buildings of 15.1 percent, Statistics SA said.

However, strong growth was still reported for additions and alterations (24.5 percent) and non-residential buildings (9.6 percent).

Four provinces reported decreases in the value of buildings completed during January to August 2009.

The province mainly responsible for the decrease of 1.4 percent was Gauteng (-7.6 percentage points).

However, strong growth was still reported in KwaZulu-Natal (3.8 percentage points), followed by Free State (1.9 percentage points) and Western Cape (1.1 percentage points), Statistics SA said.

Article from: www.iafrica.com