Value Of Building Plans Passed In East Cape Down 7.8%

BY SUPPLIED - AUGUST 21, 2014

The value of building plans passed by larger municipalities in the Eastern Cape dropped by 7.8% in the first six months of this year compared with the same period in 2013, according to figures re-leased this morning by StatsSA.

The figures show that the value of building plans passed dropped from R2.53 billion in the first six months of 2013 to R2.33 billion in the first six months of 2014.

Leading the decline was the value of plans passed for non-residential buildings which dropped by 45.9% to R628.7 million from R1.2 billion with plans for office and banking space as well as shopping space experiencing the largest decrease.

Plans for office and banking space declined by 73.1% to R15.5 million, while plans for shopping space dropped by 70% to R248.1 million. Industrial and warehouse space showed a modest increase of 27.9% to reach R318.8 million.

The total value of plans passed for all residential buildings in the first six months of this year increased by 20.2% to reach R728.5 million, with dwelling houses of 80 square metres or more increasing by 35.6% to a fraction under R540 million from the R398.2 million recorded last year.

Plans for dwelling houses of less than 80 square metres increased by 338.4% to just more than R105 million with plans passed for 29 houses in June alone com-pared with just five in the same month last year.

Plans passed for flats and townhouses declined by 61.5% to R67.6 million over the first six months of 2014 compared to January-June last year.

Plans passed for alteration and additions increased by 27.8% to reach R975.2 million, with plans for alterations and additions to residential properties climb-ing by 22.6% to R718.8 million and non-residential by 45.2% to R256.4 million. - MetroMinutes