The real value of building plans passed in South Africa increased by 37.3% year-on-year (y/y) in November after surging by 51.9% y/y in August and rising by 27.3% y/y in the first half of 2004, Statistics South Africa reported on Wednesday.

August's increase was the highest so far in 2004, beating March's 47.7% y/y and February's 40.7% y/y.

South Africa is currently experiencing a housing boom with South African house prices increasing by 32.6% y/y increase in December. This brought the annual average increase to 32.1% for 2004 compared with 21.5% in 2003 according to South African commercial bank Absa's (ASA) monthly House Price Index (HPI).

In November, residential building plans rose by 38.1% y/y to 1.9872 billion constant 2000 rand, while additions and alterations increased by 41.3% y/y to 798.9 million constant 2000 rand and there was a 26.3% y/y growth in non- residential plans passed to 383.9 million constant 2000 rand.

The total real value of building plans passed (at constant 2000 prices) during the first ten months of 2004 increased by 32.8% y/y to 29.4125 billion constant 2000 rand.

The largest increase in the value of building plans passed was reported for residential buildings at 40.2% y/y. Building plans passed for dwelling-houses increased by 31.1% y/y, for flats and townhouses by 48.5% y/y and for other residential buildings such as hostels by 293.9% y/y.

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