Sharp Decrease In Value Of Building Plans Passed During 2009

The value of building plans passed -at current prices - by major municipalities during 2009 decreased by 21.7% when compared with 2008, Statistics South Africa announced.
 
The largest decrease was recorded for residential buildings (36.5%), followed by nonresidential buildings (9.2%) and alterations and additions (6.5%) Stats SA said.
 
In eight Provinces decreases in the value of building plans passed during 2009 were recorded. The real value of building plans passed by larger Municipalities during 2005 was 4.5 Rbn and increased to 6.0 Rbn at end of 2006.

A substantial increase to 7.2 Rbn by the end of 2007 was recorded. By end of 2008 there was a dramatic decline to 3.6 Rbn reaching a low point of 3.3 Rbn at end of 2009.

Pieter Rautenbach