The first quarter of 2016 saw some steady single-digit year-on-year growth in the volume of building activity in both the planning and construction phases of the South African market for new housing. There were, however, evidence of divergent trends in the planning and construction of new housing on a segment level in the first three months of year compared with a year ago.
With the South African economy forecast to grow by only 0,3% in 2016 and the household sector set to face increased levels of financial strain as a result of rising inflation and higher interest rates, which may dampen consumer confidence even further from its current low level, residential building activity is not expected to show a significant improvement in the rest of the year.
Read more here: Building stats Mar 2016
