The slump experienced in December 2022 in terms of approvals, was widespread across most of the provinces, and within all four of the higher capacity provinces. Overall approvals were down 18 percent y-y in December 2022, slowing the annual growth rate to just 2 percent for 2022. The non-residential sector however, took the spotlight in December with a 14 percent increase in approvals (mainly supported by the retail and office markets in Gauteng and Western Cape), against a sharp decline in approvals for residential developments. Overall Western Cape ended the year 16 percent higher, while Eastern Cape declined by 21 percent, Kwazulu Natal by 3 percent and Gauteng by 4 percent. Other provinces that reported an increase in 2022 include Northern Cape, up 37 percent, Limpopo up 7.5 percent and Mpumalanga up 28 percent. North West was still down 17 percent. A total of 14 million square metres were approved in 2022, of which 34 percent was in the Western Cape and 28.5 percent in Gauteng. For more information please contact our offices at info@industryinsight.co.za.
| File |
|---|
| Building Plans Approved Provincial Summary December 2022 | |
