Absa – Residential Building Activity

Building activity with regard to new private sector-financed housing in South Africa recorded relatively low single-digit growth in the first eleven months of 2015 compared with the corresponding period in 2014, based on data published by Statistics South Africa.

The number of new housing units for which building plans were approved increased by 4% year-on-year to a total of just more than 55 600 in the eleven months to November last year, with the number of new housing units constructed increasing by 5,2% year-on-year to a total of more than 36 300 units over the 11-month period.

Against the background of economic and household sector trends and prospects, residential building activity is not expected to show a significant improvement this year from current levels.

Read more here: Building stats Nov 2015