The level of residential building activity in the planning phase of the South African market for new housing recorded a double-digit year-on-year contraction in January 2016, whereas growth in the construction phase was driven by a significant improvement in one segment of the market.
In view of trends in and the outlook for the economy and household finances, residential building activity is expected to remain relatively subdued in 2016, with the level of building confidence that was still on a downward trend in the first quarter of the year and levels of alterations and additions to existing houses that were also under pressure in the first month of the year.
Read more here: ABSA Building Stats Jan 2016
