The value of recorded building plans passed in South Africa slumped 32.5 percent year-on-year to ZAR 7.5 million in November 2019, following a 1.1 percent rise in the previous month. It was the largest decline in building permits since July 2009, led by non-residential buildings (-74.3 percent vs 36.4 percent in October) and residential ones (-27.5 percent vs -3.2 percent). In contrast, additions & alterations went up (6.7 percent vs -12.5 percent). On a seasonally adjusted monthly basis, building plans passed tumbled 19.6 percent, after an upwardly revised 25.3 percent jump in the preceding month. Building Permits in South Africa averaged 3536565.19 ZAR Thousand from 1981 until 2019, reaching an all time high of 11646162 ZAR Thousand in July of 2017 and a record low of 218553 ZAR Thousand in December of 1985. source: Statistics South Africa
Building Permits in South Africa is expected to be 8500000.00 ZAR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in South Africa to stand at 9500000.00 in 12 months time. In the long-term, the South Africa Building Plans Passed is projected to trend around 9600000.00 ZAR Thousand in 2020, according to our econometric models.