{"id":313282,"date":"2019-04-27T09:00:31","date_gmt":"2019-04-27T07:00:31","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=313282"},"modified":"2019-04-26T14:49:41","modified_gmt":"2019-04-26T12:49:41","slug":"this-is-how-much-it-would-cost-to-build-your-own-home-in-south-africa-right-now","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/313282\/this-is-how-much-it-would-cost-to-build-your-own-home-in-south-africa-right-now\/","title":{"rendered":"This is how much it costs to build your own home in South Africa right now"},"content":{"rendered":"<p>Absa has released its latest residential building statistics report \u2013 detailing how much it costs to build a home in South Africa right now.<\/p>\n<p>The report found that the number of building plans approved for new housing was down by 19.8% year-on-year, to 8,739 plans in the first two months of the year.<\/p>\n<p>However, the volume of new housing units reported as being completed increased by 6.2% year-on-years, to a total of 6,101 units in January and February this year.<\/p>\n<p>&#8220;Against the background of general economic conditions and prospects, confidence in the building sector was much subdued in the first quarter of 2019,&#8221; Absa said.<\/p>\n<p>&#8220;In view of these developments and financial strain experienced over a wide front by the household sector, which were evident in a low level of consumer confidence in the second half of last year, residential building activity is expected to remain under pressure over the short to medium term.&#8221;<\/p>\n<p><strong>Cost of building<\/strong><\/p>\n<p>The report found that\u00a0the average building cost of new housing completed increased by 4.9% y\/y to R7,793 per square meter in the first two months of 2019 &#8211; from R7,432 per square meter in the same period last year.<\/p>\n<p>In real terms, i.e. after adjustments for inflation, residential building costs were down 0.6% y\/y, based on an average headline consumer price inflation rate of 4.3% y\/y over the 2-month period.<\/p>\n<p>The <strong>average building cost per square meter<\/strong> in the three categories of new housing was as follows in January and February this year:<\/p>\n<ul>\n<li>Houses of &lt;80m\u00b2: <strong>R5,918<\/strong><\/li>\n<li>Houses of \u226580m\u00b2: <strong>R7,630<\/strong><\/li>\n<li>Flats and townhouses: <strong>R8,224<\/strong><\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/04\/Building.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-313284 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/04\/Building.png\" alt=\"\" width=\"757\" height=\"380\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/04\/Building.png 757w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/04\/Building-300x151.png 300w\" sizes=\"auto, (max-width: 757px) 100vw, 757px\" \/><\/a><\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/property\/312296\/what-you-need-know-about-an-offer-to-purchase-on-a-home-in-south-africa\/\" target=\"_blank\" rel=\"noopener noreferrer\">What you need know about an offer to purchase on a home in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Absa has released its latest residential building statistics report \u2013 detailing how much it costs to build a home in South Africa right now.<\/p>\n","protected":false},"author":10,"featured_media":234285,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[26],"class_list":["post-313282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/313282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=313282"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/313282\/revisions"}],"predecessor-version":[{"id":313584,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/313282\/revisions\/313584"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/234285"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=313282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=313282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=313282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}