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Building statistics – The planning phase of new housing in the South African property market showed a rising trend from July up to October

The planning phase of new housing in the South African property market showed a rising trend from July up to October 2012, whereas the construction of new housing saw a contraction in September and October this year. However, in the first ten months of 2012 the volume of building plans approved for new housing was down from the corresponding period a year ago, with the construction phase recording low single-digit growth over the same period. 

Against the background of economic developments, the state of household finances and the level of consumer confidence, residential building activity may remain subdued in the short to medium term, although the recent uptick in planning activity is expected to lend some support to new housing construction in 2013.

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