Building activity contracts in both the planning and construction phases

The first three quarters of 2017 saw building activity in the South African market for new private sector-financed housing contracting in both the planning and construction phases compared with the corresponding period last year, based on data released by Statistics South Africa.

According to ABSA, against the background of trends in and the outlook for the economy, household finances, consumer confidence and building confidence, levels of and growth in residential building activity are expected to remain under pressure towards the end of 2017 and in 2018.

Read the ABSA – Building stats report Sep 2017 – here