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
