The first seven months of 2015 saw improved levels of building activity with regard to new private sector-financed housing in South Africa, based on data published by Statistics South Africa. However, growth in activity levels in both the planning and construction phases of new housing was largely segment driven up to July this year.
Growth in activity levels in the various segments of new housing built will be a result of the magnitude of the planning and construction phases, with a significant lag between the planning and eventual completion based on the extent of such housing developments, as well as other factors such as the process of rezoning and preparation of development land and the availability of municipal services such as water, sewerage and electricity. Trends in and the outlook for the economy, household finances and consumer and building confidence are also important drivers of residential building activity. Read more here – ABSA Building stats Jul 2015