"Also per CSO release, the number of dwelling units approved was down 22.4% in year to the end of Q4 2008. In Q4 2008, planning permissions were granted for 10,375 houses as opposed to 13,135 in the Q4 2007, a decrease of 21%. Only 3,392 planning permissions were granted for apartment units, compared with 4,598 in Q4 2007, a decrease of 26.2%. The total number of planning permissions granted for all developments was 8,977, as compared to 12,330 in Q4 2007, a decrease of 27.2%. Dire stuff once again. I will do the detailed analysis of the sectoral decline dynamics in a follow up to this post."
So, as promised here are some graphs illustrating the dire state of affairs in construction industry.
First chart below shows two things:
- Numbers of permissions granted (annual totals) for main categories of dwellings and in total - these are now clearly falling at the fastest annual rate;
- Total area of all construction projects applied for is also falling at the fastest rate of decline.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjGPmuMm1lmqfXtjYkjA7cDGwNcUHsUMAqlTqXCj-SUaM_cd7dVeS9niF8aHCZWrZbN0YLTEieIeNNy62GSwcjwptmlFGRBfTs6CIMe9Q0bT1PGMTOV3Mu6ZHxCp7j8z2QtQ7aNHNBkubrT/s400/Picture+4.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkbPql8ANUa4naNvcfq0o0DbBLydNGVvFYNTYN89kPeD9oE_iR0_BfekYtB1JgjSAzYvrN-LVDELt2IDGDtqUvNgpt07i3AcHD5IA0Ua6n1IUrhwKdMJG9KzaNaYcptstWGcTqpI3uZLED/s400/Picture+2.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuFkkees4_pLGPz2G6qWVeCyXVW0xf326478fBKHwKL_sk1Gs3GwIFQQGjOnXHaNZEQmSWSxjIIX_HA73lsfcx5YHNYKHKi62t21CceBE0NMeo7S1HTY1IYjkY9v0ai546G7BdsVELztLu/s400/Picture+1.png)
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