Conditions with regard to building activity in the South African market for new housing seem to be deteriorating, based on trends in the first seven months of 2016. Levels of building activity have in fact contracted markedly in all segments of housing in both the planning and construction phases in July this year compared with a year ago.
Against the background of trends in and the outlook for the economy, household finances and building and consumer confidence, levels of residential building activity are expected to remain largely subdued and may deteriorate further from current levels towards year-end and in 2017.
Read more here: ABSA Building Stats July 2016
