Subdued residential building activity in first quarter of 2017

Residential building activity remained under pressure in both the planning and construction phases of the South African market for new housing in the first quarter of 2017. The number of plans approved declined from a year ago whereas the number of housing units reported as completed showed single-digit growth.

With the South African economy forecast to grow by only 1,0% in 2017 and the household sector set to continue to experience a fair amount of financial strain this year, which will contribute to further low consumer confidence, residential building activity does not seem to show a significant improvement in the rest of the year.

Read more here: Absa Building Stats Mar 2017