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• Create Date March 19, 2024
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Building Plans Approved National Summary January 2024

In January 2024, building approvals nationally declined for the 7th straight month, with a 13% decrease year-on-year. Free State saw a significant increase, while other regions like Limpopo and Kwazulu Natal showed modest improvements. However, overall national trends indicate a challenging start to the year, with lower approval rates compared to the previous year. Despite the market decline, there are opportunities in smaller provinces and specific market segments. Rising inflation and increased bond repayments are putting pressure on consumers. The 2024 budget reflected adjustments in energy and water, but social infrastructure funding was reduced, impacting sectors like health, education, and housing.

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