Cracks in building industry
17-12-2020
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Sunday World
Source
Johannesburg – Data from Statistics SA have laid bare the tough year the construction industry has had to endure.
Key findings from the selected building statistics of the private sector as reported by local government institutions show that the value of recorded building plans passed (at current prices) decreased by 38.9% or R36.9-billion during January to October compared with the comparative period last year.
The stats agency said decreases were recorded for non-residential buildings, that plunged R9.1-billion, residential buildings tanking R18.7-billion and additions and alterations experiencing a decline of R9-billion.
“The largest contributions to the total decrease of 38.9% were made by Gauteng (contributing -21.1 percentage points or -R19.9-billion), Western Cape (contributing -5.8 percentage points or -R5.5-billion), KwaZulu-Natal (contributing -5.8 percentage points or -R5.5-billion) and Eastern Cape (contributing -3.3 percentage points or -R3-billion),” the report reads.
The data further revealed that the value of buildings reported as completed (at current prices) decreased by R36-billion.
The broader construction sector is pinning hopes on the multibillion government-led infrastructure plans.
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