Increase in building plans approved
STAFF REPORTER
A total of 235 building plans were approved in November and represents a 46.9% month-on-month increase from the 160 building plans approved in October.
In value terms, approvals increased by more than N$80 million to N$172 million in October from N$88.46 million approved in September.
This is according to the building plans assessment compiled by stockbrokers IJG Securities.
Total completions fell from the 88 recorded in October to 67 for November. In value terms, however, completions increased by 67.1% month on month with N$86.85 million worth of completions registered in November. Year to date, N$2.09 billion worth of building plans have been approved, an increase of 12.2% year on year, according to IJG.
On a twelve-month cumulative basis, 1 932 building plans have been approved worth approximately N$2.19 billion, 13.6% higher in value terms than the cumulative approvals registered in November 2016, IJG found.
From a 12-month cumulative perspective, 1 932 building plans were approved in November, increasing by 13% compared to corresponding period in 2016.
“Consumers and businesses will now look to 2018 in hopes of some relief, however recent downgrades and the potential of further downgrades in South Africa point to greater possibilities of a rate hiking cycle, which would put further pressure on consumers and will further delay a much needed economic recovery,” IJG said in its assessment.
A total of 235 building plans were approved in November and represents a 46.9% month-on-month increase from the 160 building plans approved in October.
In value terms, approvals increased by more than N$80 million to N$172 million in October from N$88.46 million approved in September.
This is according to the building plans assessment compiled by stockbrokers IJG Securities.
Total completions fell from the 88 recorded in October to 67 for November. In value terms, however, completions increased by 67.1% month on month with N$86.85 million worth of completions registered in November. Year to date, N$2.09 billion worth of building plans have been approved, an increase of 12.2% year on year, according to IJG.
On a twelve-month cumulative basis, 1 932 building plans have been approved worth approximately N$2.19 billion, 13.6% higher in value terms than the cumulative approvals registered in November 2016, IJG found.
From a 12-month cumulative perspective, 1 932 building plans were approved in November, increasing by 13% compared to corresponding period in 2016.
“Consumers and businesses will now look to 2018 in hopes of some relief, however recent downgrades and the potential of further downgrades in South Africa point to greater possibilities of a rate hiking cycle, which would put further pressure on consumers and will further delay a much needed economic recovery,” IJG said in its assessment.
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