The estimated value of civil projects out to tender increased by 81 percent y-y in the 2nd quarter of 2023 (current prices). Higher values were reported in most of the provinces, except in the Northern Cape, North West and Mpumalanga. The value of road projects doubled by comparison to last year, with a 77 percent…
Formal employment in the construction industry fell by 5.1 percent y-y in the 1st quarter of 2023, which was the strongest decline across all of the non-agriculture sectors. Total formal employment fell by 1 percent y-y, with the mining sector having increased formal employment by 4.1 percent.
Indicators released during the month of June 2023 remain supportive of an improved outlook for civil investment, while economic fundamentals remain weak, and deteriorated even further in June, for the building industry. One positive this month was the lower-than-expected headline inflation rate that came in at 6.3 percent, although inflation excluding regulated prices, is still…
Detailed review of current and developing trends in the construction sector including reviews of all nine provinces in South Africa. The report includes a three year rolling provincial forecast based on changes in the estimated value of the potential construction pipeline. The full report, including a detailed provincial dashboard, is now available for download.
Metro’s increased capital expenditure by 10 percent y-y by the 3rd quarter of the current financial year, having spent 44.6 percent of their cumulative annual capital budgets. Capital expenditure on energy sources rose 130 percent y-y with good increases also reported in water management and waste water management. The best performing metro was the City…
The Western Cape was the main contributor supporting an overall increase in the national residential property price index, that rose from 4.9 percent in December 2022 to 5.1 percent in January 2023. Mpumalanga and Limpopo recorded the strongest residential property price growth of between 13 percent and 14 percent respectively. (Source Stats SA)
The composite construction material price index eased to an annual increase of 6.1 percent in April 2023 from 9.1 percent in March. Although some items such as concrete pipes, tiles and ceiling boards recorded higher inflation, majority of materials recorded softer price adjustments.
Cement imports continued to decline, with the index down 6.1 percent m-m in January 2023. The index is based on a moving 12-month average (2010=100). Vietnam remains South Africa’s key trading partner for cement imports.
Highlights of infrastructure and construction expenditure plans, according to the nine provincial state of province addresses delivered in February 2023. The report includes provincial expenditure priorities as announced in 2002, with regards to capital expenditure in buildings, other fixed structures and housing grants. An update of the 2023 budgets will be provided as soon as…
Wholesale trade sales of construction materials increased by 19.2 percent y-y (constant 2021 prices) in January 2023 compared to a 4.1 percent decrease in sales at retailers level. At wholesale level, construction was the 2nd best performing sector during the month, but the 2nd worst performing sector at retail level.
