Approvals for private sector building projects, measured in SQM, increased by 11.3 percent y-y (or 130 702 sqm) in June 2022 to 1 291 120 sqm, compared to the same period last year. This growth was supported mainly by an increase in housing approvals in Gauteng, Western Cape and Limpopo. Western Cape recorded the strongest increase in approvals for home renovations. Gauteng recorded a marginal increase in industrial approvals, but overall at a national level, approvals were weaker for all the market segments in the non-residential sector. Projects worth an estimated R56bn were approved during the first six months of 2022, representing an increase of 4 percent in current prices, with R15bn approved in the additions and renovations market, up 7 percent. In terms of the number of SQM approved during the first six months of 2022, total approvals increased by 2.4 percent y-y, with a 6.3 percent increase in the residential market, while the depressed conditions continue in the non-residential market, down 7.8 percent y-y.
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| Building Plans Approved June 2022 | |
