{"id":30029,"date":"2021-11-22T17:07:54","date_gmt":"2021-11-22T15:07:54","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=30029"},"modified":"2021-11-22T17:07:56","modified_gmt":"2021-11-22T15:07:56","slug":"building-plans-october-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-october-2021\/","title":{"rendered":"Building Plans \u2013 October 2021"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In October the\nCity of Windhoek approved 271 building plans, an 18.9% m\/m increase from the\n228 approved in September. The total value of approvals increased by 40.2% m\/m\nto N$221.7 million. Year-to-date there have been 2,090 approvals, valued at\nN$1.63 billion. This year-to-date figure is only 5.8% higher in value terms\nthan at the same time last year. With only two months left in the year it is\nlikely that the value of building plans approved in 2021 will be similar to that\nof 2020. On a 12-month cumulative basis, the number of approvals rose by 13.9%\ny\/y to 2,476 while the value of these approvals rose by 6.1% y\/y to N$1.94\nbillion. 86 construction projects were completed in October at a value of\nN$58.4 million. Year-on-year this equates to a 32.2% increase in number and\n6.54% increase in value. Given that September saw yearly highs in both the\nnumber and value of projects completed the month-on-month changes in\ncompletions come in at a somewhat distorted 63.2% decrease in number and 51.4%\ndecrease in value. On a 12-month cumulative basis the value of completed\nprojects is down 55.7% y\/y. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

200 additions to properties were\napproved at a value of N$78.3 million, a 39.9% m\/m increase in number and 22.0%\nm\/m increase in value from September. Year-to-date, 1,326 additions have been\napproved at a value of N$608.5 million. Broadly consistent with 2020\u2019s figures,\nthis represents a 1.9% y\/y decrease in number and 5.2% y\/y increase in value\nfrom the same time last year. 43 additions were completed in October at a value\nof N$10.43 million. Given the large variance in both the number and value of\nadditions completed over the last 24 months there is not much insight to be\ngained from looking at the month-on-month and year-on-year changes in the\nnumber and value of additions completed, suffice to say that October was a marginally\nbelow (pandemic-era) average month for addition completions. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

69 new\nresidential units were approved in October at a value of N$81.4 million. This\nrepresents a 14.8% m\/m decrease in number and 6.3% m\/m decrease in value from\nSeptember\u2019s figures. Year-to-date, 733 units have been approved at a value of\nN$863.2 million. This represents a year-to-date increase in the number and\nvalue of residential units by 44.9% y\/y and 29.6% y\/y respectively. On a\n12-month cumulative basis, the number of residential units approved increased\nby 59.1% y\/y and 24.9% y\/y in value.  41\nnew residential units were completed in October at a value of N$32.6 million.\nThis translates to a 12.8% y\/y decrease in number and 17.0% y\/y decrease in\nvalue. Additionally, October\u2019s completion figures equate to a 43.1% m\/m\ndecrease in number and 56.8% m\/m decrease in value. On a 12-month cumulative\nbasis, the number of residential properties completed stands 557, at a value of\nN$504.8 million. This represents a 12-month cumulative decrease in value of\n52.0% y\/y.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

In October two commercial units, with\na combined value of N$62.0 million, were approved. In terms of value, this was\nthe best month for approvals of commercial construction projects in 2021. So,\nwhile year-to-date the number of commercial projects approved increased by only\ntwo, from 29 in September to 31 in October, the year-to-date value of\ncommercial approvals increased by a much more substantial 65.4%, from N$94.8\nmillion to N$156.8 million. A streak of six consecutive months with zero\ncommercial building project completions was finally snapped in October as two commercial\nprojects were completed at a value of N$15.35 million. In terms of value,\nOctober was the best month for commercial construction project completions in\njust over two years.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

On a 12-month\ncumulative basis, the number of building plans completed fell by 22.5% y\/y and\n55.7% y\/y in terms of value. The year-on-year change of the 12-month cumulative\nvalue of plans completed will likely, as alluded to in previous reports, remain\nnegative for several more months as the effects of the pandemic and past\nlockdowns continue to weight on the figure.<\/p>\n\n\n\n

12-month\ncumulative approvals are up 13.9% y\/y in number and 6.1% y\/y in value. While\nthis doesn\u2019t read as a resounding comeback story for the construction industry,\nit does at least show that the flow of approvals remains consistent.  <\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

In October the City of Windhoek approved 271 building plans, an 18.9% m\/m increase from the 228 approved in September. The total value of approvals increased by 40.2% m\/m to N$221.7 million. Year-to-date there have been 2,090 approvals, valued at N$1.63 billion. This year-to-date figure is only 5.8% higher in \u2026 Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21,6],"tags":[],"class_list":["post-30029","post","type-post","status-publish","format-standard","hentry","category-buildingplans","category-economicresearch"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/30029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/comments?post=30029"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/30029\/revisions"}],"predecessor-version":[{"id":30036,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/30029\/revisions\/30036"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=30029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=30029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=30029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}