Value of building plans passed up 2.5% in Eastern Cape to R3.7-billion
The value of building plans passed by larger municipalities in the Eastern Cape increased by 2.5% to just under R3.7 billion in the first nine months of this year compared to the same period in 2013, according to figures released by Statistics South Africa.
The increase was driven by the rise in the value of plans passed for residential buildings by 26.5% year-on-year to R1.2 billion.
The value of plans for houses of 80 square metres or more increased by 37.2% y/y to R903.2 million, with the number of plans passed rising from 613 to 778.
The value pf plans passed for houses of less than 80 square metres increased by 192.8% y/y to R136.3 million while the number of units rose from 228 to 1 029.
The value pf plans passed for flats and townhouses, on the other hand, decreased by 54.9% to R95.4 million, while plans for other residential buildings that includes hotels and tourist accommodation increased in value by 255.8% to just less than R39 million.
The value of plans passed for non-residential buildings by larger municipalities in the Eastern Cape decreased by 38.1% to a fraction over R889 million.
The slump was led by plans for shopping space which declined by 66.8% to R288.1 million and office and banking space plans which dropped in value by 55.1% to R46.8 million.
Against that, the value of building plans passed in the first nine months of this year for industrial and warehouse space increased by 20.9% to R498.9 million.
The value of plans passed for alterations and additions in the first nine months of 2014 increased by 31.5% to just more than R1.6 billion.
Plans for alterations and additions to houses increased by 24.1% y/y to R1.1 billion while the value of plans passed for alterations and additions to all other buildings rose by 55.6% y/y to R452.3 million. - metrominutes
IMAGE sourced from www.rocainjuryla.com
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