Building plans approved for private sector construction showed a notable improvement in March 2022 with a 34.7 percent m-m increase and a 18.9 percent y-y increase. Over 1.4 million sqm were approved during the month, with a notable increase in approvals for industrial space in Gauteng. The annual growth rate over the last 12 months increased to 38.5 percent y-y from 36.5 percent as at February. The residential market continues to outperform the non-residential market, with a 46 percent increase over the last 12 months compared with a 18.8 percent reported in approvals for non-residential space. A total of 13.9 million square metres were approved over the last 12 months, at an estimated value of R110bn (current prices).
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| Building Approvals National March 2022 | |
