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Building Plans Approved Provincial Summary February 2023

The number of SQM approved for private sector construction edged higher in February on a year on year basis, supported by a strong increase in approvals in Gauteng, Free State and the North West Province. All the other provinces, including the Western Cape, recorded double digit declines for the month.  Gauteng showed the strongest increase in housing approvals (coming off a low base) for the month of February 2023. Despite the Western Cape's strong performance over recent years, the annual rate of increase in approvals measured over the last 12 months, has steadily softened to an annual increase of 7.4 percent y-y as at February. Smaller provinces like the Northern Cape and Mpumalanga are the only two provinces that are still showing a more robust annual increase over the last 12 months, although combined they have less than 7 percent of the market share in terms of private sector building project approvals.

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