Building Plans passed: Western Cape now in top spot
Total building plans passed in the Western Cape between January and June 2022 increased by 33.2% in value compared to the same period last year, translating to a value of R17.86 billion and surpassing Gauteng both in value as well as percentage growth.
This is according to Statistics South Africa’s ‘Selected building statistics of the private sector as reported by local government institutions’ report, released on 18 August 2022.
This includes R10.29 billion worth of residential buildings, R2.37 billion worth of non-residential buildings, and R5.19 billion in additions and alterations.
This is a strong leading indicator for economic growth, and an important leading measure for the creation of jobs as the construction on these projects begin. This is especially important given the pressure the construction sector has felt over the last quarter.
The Western Cape Government is committed to removing red tape and making it easier for the private sector to get on with its job of creating jobs, and we will look to boost business confidence so that we unlock the investment our economy needs to grow.
Source: Government of South Africa