When compared to the previous quarter, the number and value of the building permits issued fell by 14.8 per cent and 11.9 per cent respectively.
But compared to the same period last year, it increased by 5.0 per cent and 38.9 per cent respectively because after TC Winston, there was a lot of rebuilding/construction, renovation, etc.
In March quarter of 2016, a total of 379 building permits valued at $60 million were issued and the breakdown is as follows:
Western Division – 59.8 per cent with $35.9 million;
Central and Eastern Division – 38.7 per cent with $23.2 million and
Northern Division – 1.5 per cent with $35.9 million
In regards to completion certificates, a total of 138 were issued, valued at $17.8 million and the breakdown is as follows;
Western Division – 51.7 per cent with $9.2 million;
Central and Eastern Division – 43.9 per cent with $7.8 million and
Northern Division – 4.4 per cent with $0.8 million.
When compared to the previous quarter, the number and value of completion certificates issued increased by 3.0 per cent and 4.9 per cent respectively and likewise for the same period last year, it increased by 13.1 per cent and 16.8 per cent respectively.
Building Material Price Index
The All Items Building Material Price Index (BMPI) is compared to earlier periods to gauge price movements of a representative list of building materials.
The BMPI for March quarter of 2016 stood at 107.7 and it registered a decrease of -4.2 per cent over the December quarter of 2015.
The decrease was mainly due to the following;
Wood and Related Materials: down to -5.2% due to lower prices were recorded for rough gauged treated framing grade, dressed treated framing and dressing grade, ditto cornice, dressed hardwood framing grade, interior grade plywood and damp proof.
Cement and Related Materials: down to -6.4% due to lower price were recorded for cement, sand, standard concrete blocks 150 thick, bond beam blocks, corner block, plain end jamb block and visqueen.
Iron and Steel: down to -5.4% due to lower prices were recorded for corrugated iron, standard ridge cap, girth barge flashing, aluminium sisalation, mild steel in concrete and blockworks, roofing nail, galvanized louvre frames, lumberlock strip brace, joist hanger and purlin straps.
Plumbing ware: down to -6.9% due to lower prices were recorded for pvc pipes, pvc down pipes, double & single bowl stainless steel, wash hand basin, waste pipes, washer, pvc glue, taps and thread seal tape.
Paint and Glass: down to -4.8% due to lower prices were recorded for metal primer, timber primer, under coat, finishing coat, concrete paint, cemstik, clear & obscure glass, vanish, paintbrush, mineral turpentine, no more gap adhesives and paint roller.
Floor and Wall Tiles: down to -5.7% due to lower prices were recorded for vinyl floor tiles, ceramic tiles adhesives, vinyl tile adhesive and lino plastic covering.
Door and Window Frames: down to -4.1% due to lower prices were recorded for sliding doors, anodised single light overall size and anodized aluminium two light windows.
Electrical Products: down to -5.9% due to lower prices were recorded for zelemite board, single gangswitch, power point, tube light & fittings, tube light, light bulb, light wire, lead wire, starter, 2 pin plug and 4 way power point.
This is an informative publication, sponsored by The Fiji Sun, Fiji Bureau of Statistics and HFC Bank. All views expressed or implied are purely of the Treasurer at the HFC Bank, Peter Fuata.
This publication first appeared in the Fiji Sun on August 15, 2016.