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Johannesburg - The real value of recorded building plans increased by 1.9% year-on-year during January to August this year, Statistics SA (Stats SA) said on Thursday.
Read the full report here.
"Residential buildings...[were] the only positive contributor to the increase," the organisation said in a report.
The figures reported were calculated at constant 2010 prices in order to ensure accuracy.
The statistics are based on information sourced from district, metropolitan, and local municipalities about privately-financed building plans passed and buildings completed.
The Western Cape and KwaZulu-Natal reported the most significant increases in the value of building plans passed.
Gauteng continued to dominate the sector, overall, in terms of plans passed.
Using the same measurement system, the real value of buildings reported as completed, decreased by 13.9% year-on-year over the same period.
The value of completed alterations and additions, non-residential buildings, and residential buildings all went down.
Stats SA said that according to municipalities low-cost housing projects were not always reported to them and thus the figures calculated excluded the bulk of such building projects.
- Sapa and Fin24.
