The first nine months of 2014 saw continued year-on-year growth in the planning phase of residential building activity in the South African market for new housing, as reflected by the number of building plans approved by local government authorities. However, the contraction in the construction phase of residential building activity, i.e. the volume of housing units reported as completed, continued unabatedly up to the end of the third quarter of the year.
Trends in residential building activity will continue to be driven by economic factors, household finances, the affordability of new housing and changing lifestyles, which will impacted the demand for and supply of new housing. Read more here – ABSA Building stats Sep 2014