The Namibia Economist

Value of building plans increase in November

According to latest statistics from the City of Windhoek, the number and value of building plans approved during November increased compared to the previous month.
On a month-on-month basis, the number of plans approved, including walls and pools, increased from 221 in October to 248 in November. Excluding walls and pools, the total number approved was 212 an 8.2% increase than the previous month, but 27.9% lower than a year earlier.
The total value of approved plans in November was N$111 million, reflecting a 10.9% month-on-month increase and a 20.5% year-on-year decrease.
The monthly increase in the number of approved plans was due to increases in the “additions” and “commercial and industrial” categories, which were partially offset by a decline in the “flat and house” category.
On the other hand, the monthly increase in the value approved was due to an increase in the “commercial and industrial” category which was partially offset by decline in the “additions” and “flat and house” categories.
Of the 248 plans approved in November, 190 were in the “additions” category and totaled N$45.5million, while 16 plans to the value of N$12.3 million fell under “flat and house” and six plans to the value of N$53.2million fell under “commercial and industrial”.
Year-to-date 2447 plans to the value of N$1.466 billion have been approved. The number and value of plans approved in 2011 have been closely tracking 2010’s. Relative to 2010, the 2011 year-to-date number of plans approved is 1.3% higher, while the value of plans approved is 0.1% lower.
In the past 12 months, 2626 plans to the value of N$1.542 billion have been approved. The 12-month cumulative number of plans approved is 1.8% higher than the previous year, while the 12-month cumulative value of plans approved is 1.2% higher.
The six-month moving average of value of plans approved increased by 4.4% to N$135.9million from N$130.1million in October, while on a yearly basis the measure decreased by 7.3%.
The number of building plans completed - including walls and pools - rebounded to 100 plans in November after dropping by 46% during October to 78 plans. Excluding walls and pools, 82 plans (valued at N$34.3million) were completed in November, a 32.3% increase (49.9% increase in value) from the previous month. However it decreased by 25.5% (24.5% decrease in value) from the previous year.
Sixty-six plans completed to the value of N$10.3 million were additions, and 14 plans to the value of N$20.7 million fell under the “flats and house” category while two commercial properties to the value of N$3.27 million were also completed.
The six-month moving average of the total value of plans completed was virtually unchanged during the month, decreasing by a mere 0.2% to N$76.8 million. However on an annual basis, the measure was 35.1% higher.
The 12-month moving average of the total value of both approved and completed plans increased on an annual basis to N$128.5 million and N$62.1 million, respectively.n

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