Continued slowdown in residential building activity

Levels of building activity in the South African market for new housing continued to slow down up to August 2016 in both the planning and construction phases compared with a year ago. The months of July and August in particular saw significant contractions in activity levels on a year-on-year basis, which contributed the trends of the 8-month period.

Residential building activity are expected to remain largely subdued and may deteriorate even further from current levels up to year-end and into 2017 against the background of recent trends in and prospects for the economy, household finances and confidence in the building and consumer sectors.

Read more here: Absa Building Stats August 2016