Value of Building Plans Passed By EC Larger Municipalities Declines
The value of building plans passed by larger municipalities in the Eastern Cape dropped by 1.9% to just over R3.2 billion in the first eight months of this year, compared with the same period last year.
Figures released by Statistics South Africa show that the value of plans for non-residential buildings dropped by 37.7% over this period to R818.8 million, with most segments reflecting a decrease.
Against that the value of plans passed for residential building rose by 17.6% and for alterations and additions by 24.7%.
The value of plans passed for shopping space in the first eight months of 2014 totalled a fraction under R260 million, a drop of 69.8% on the same period last year, while the value of plans passed for office and banking space decreased by 54.5% to R46.8 million from R102.9 million.
Industrial and warehouse space bucked the trend showing an increase of 47.6% to reach R458.2 million, while the value of plans for other non-residential buildings rose by 36.7% to R13.1 million.
This segment includes sport and recreation clubs, schools, crèches, hospitals and churches.
The value of plans passed for houses smaller than 80 square metres increased by 201.2% to R128.4 million, while the number of plans rose from 212 to 988 year-on-year.
The value of plans passed for houses of 80 square metres or more also increased to R761.5 million, 25.7% above the figure for the first eight months of 2013.
Plans for 693 houses were passed compared to 559 last year.
The value of plans passed for flats and townhouses, however, dropped by 57.6% to R86.4 million, with other residential buildings, which includes tourism accommodation, went in the other direction, increasing by 51.9% to R53.8 million.
The value of plans for all alterations and additions increased by 24.7% to R1.4 billion, with the residential sector accounting for just over R1 billion of this, an increase of 18%. - MetroMinutes.
Photo courtesy of www.hibicuscoastseconds.co.za
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