Levels of building activity in the South African market for new housing remained subdued in 2018, which were much in line with trends since 2010 after the economy emerged from recession in 2008/2009.
The planning phase of new housing, as reflected by the number of building plans approved by local government institutions, contracted marginally in 2018 from 2017. The construction phase of new housing, i.e. the volume of housing units reported as completed, showed some low single-digit growth last year after contracting in 2017.
In view of recent trends in and the outlook for the economy, household finances and consumer and building confidence, residential building activity is in 2019 expected to remain largely in line with that of previous years.
Read more here: Absa Building Stats December 2018