BACKLOG SHRINKS AS HOUSES ‘ROLL OFF ASSEMBLY LINE’.WALDO SINGH
Housing delivery has exploded in the past five years, leaving many pondering whether the product coming off the production lines of our vehicle manufacturers has changed from cars to houses.
The Treasury’s Provincial Budgets and Expenditure Review released yesterday said that housing delivery soared from 210 000 units in the year preceding the release of Project H five years ago, to 470 000 units this past year, the most number of houses ever built in one year.
“This brings the total to 4,4m houses built since democracy in 1994,” the review says. Western Cape has the most houses, with Gauteng, Mpumalanga and the North West also showing significant increases and rising expenditure.
Even though the Western Cape experienced an impressive building boom in the years after the 1994 election, it pales in comparison with the current boom where in excess of 80 000 housing units were built this past year, compared to the measly 11 756 units built in 2004.
Kwazulu-Natal also had significant increases with 66 000 units built this year. (continued below)
A TALE OF TRUE TRANSFORMATION: A snapshot of what the entire country is experiencing.
Housing minister Evelyn Ngaba said that the housing backlog that’s been a thorn in our country’s side for so many years is now a thing of the past.
She said that R40 billion rand hand been spent on eradicating the housing backlog and that the budget for housing would be tapering off significantly in the next few years as a result of targets being met.
The review also noted that the 4, 4 million houses built so far will become economic assets to previously poor people, coupled with the high rate of employment that will see a substantial increase in the rates base of municipalities.
Ngaba said: “We as government recognise that the conquering of our housing crisis could never have been possible without our partnership with the Project H Academy who established the mechanisms to help government finance and deliver houses to the people.”