Nsa’s Building Index Declines in March

The Namibia Statistics Agency’s composite buildings completed index for March 2015 stood at 109.4 points, compared to 242.2 points month-on-month basis and 96.2 points year-on-year basis. This represents a decline of 54.8 percent over the month and an increase of 13.7 percent over the year.

According to the Namibia Statistics Agency (NSA), the major contributor to a decline over the month was the residential buildings category that reduced by 65 percent. However, the NSA’s Sectoral Report for Marcg 2015 indicates that the residential buildings category was also the major contributor to an increase over the year that increases by 22.1 percent.

In value terms, buildings completed during the period January to March 2015 amounted to N$307.7 million compared to N$236.0 million during the same period of 2014, representing an increase of N$71.7 million, or 30.4 percent.

NSA says the building completed index for the municipality of Walvis Bay was the highest in month under review, recording 224.5 points. This represents an increase of 1.8 percent and 1.7 percent month-on-month and year-on-year basis, respectively. This was followed by the Ongwediva Town Council with an index level of 212.0 points. By comparison, this represents a decline of 44.9 percent month-on-month and an increase of 19.9 percent year-on-year basis.

The latest NSA report shows that the Swakopmund Municipality recorded an index value of 145.1 points compared to 482.1 points, translating into a decline of 69.9 percent on month-on-month basis while a decline of 18.8 percent on year-on-year basis was recorded.

The lowest index level of 75.2 points was recorded by the Windhoek Municipality, representing a decline of 59.8 percent over the month and an increase of 38.9 percent over the year.

NSA monitors the value and number of buildings completed for 24 local authorities on a monthly basis. Four of these towns that accounted for 92 percent of the total values of all buildings completed in 2010 have been selected for the index compilation.

Source : New Era