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Building Plans Approved Provincial Summary March 2024

Nationally, total value of approvals over the last 12 months are still contracting, with the steepest decline observed in residential construction approvals. The retail sector is the only sector that has shown an increase in approvals over the last 12 months, dominated by Kwazulu Natal, Gauteng, and Mpumalanga. Despite the overall decline and significant weakening in the market experienced during 2023 and into the first three months of 2024, pockets of growth continue to offer opportunities in smaller provinces or selected market segments within specific provinces, with Kwazulu Natal outperforming in the first three months.

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