Residential building activity are expected to remain relatively subdued

Building activity in the South African market for new housing, as reflected by the number of building plans approved and the number of buildings completed, contracted in the first two months of 2015 compared with the corresponding period last year.

The number of new housing units for which building plans were approved was down by 6,1% year-on-year (y/y) in January and February, whereas the volume of new housing units reported as constructed dropped by 1,6% y/y in the first two months of the year.

ABSA Building stats Feb 2015