By Helmo Preuss

The real value of recorded building plans passed (at constant 2005 prices) decreased by 0.5% during 2011, Statistics SA said on Thursday.

The drop was attributable to a large decrease reported for additions and alterations (-12.8% or -R2.064 billion).

Increases reported for non-residential buildings (14.2% or R1.2987 billion) and residential buildings (2.9% or R532.1 million) counteracted the decrease reported for additions and alterations to a large extent.

The seasonally adjusted real value of recorded building plans passed increased by 7.6% during the fourth quarter compared with the third quarter of 2011.

Increases were reported for non-residential buildings (23.3%) and additions and alterations (8.8%). By contrast, a decrease was reported for residential buildings (-1.1%).

The real value of buildings reported as completed (at constant 2005 prices) decreased by 5.6% (-R1.7323 billion) during 2011 compared with 2010.

All three major categories reported decreases, namely non-residential buildings (-14.5% or -R1.1984 billion), residential buildings (-2.6% or -R379.5 million) and additions and alterations (-1.9% or -R154.4 million).

The seasonally adjusted real value of buildings reported as completed increased by 7.8% during the fourth quarter compared with the third quarter of 2011.

The biggest increase was reported for non-residential buildings (13.0%), followed by additions and alterations (9.8%) and residential buildings (4.6%).

Source: I-Net Bridge