Private sector-financed building activity in the South African market for new housing remained subdued in the first eleven months of 2018, based on data released by Statistics South Africa. However, significant divergences remain evident at a segment level, with the category of higher-density housing, i.e. flats and townhouses, being a major focus of residential building activity. This trend is most probably related to the factors of changing trends over time regarding lifestyles, housing affordability and building costs.
In view of recent trends in and the outlook for the economy, household finances and consumer and building confidence, residential building activity is expected to remain relatively subdued in 2019.
Read more here: Absa Building Stats Nov 2018