Based on data published by Statistics South Africa, building activity in the South African market for new private sector-financed housing remained largely subdued in the first five months of 2017. The planning phase of new housing contracted up to May, whereas the construction phase showed some improvement. However, divergent trends in building activity were evident in the various segments of new housing over the five-month period.
In view of economic conditions, the state of and prospects for household finances and consumer and building confidence, the level of residential building activity is expected to remain much in line with recent trends in the rest of the year.
Read more here: Absa Building Stats May 2017