The South African Reserve Bank’s Monetary Policy Committee (MPC) raised the key monetary policy interest rate – the repurchase, or repo rate – by 25 basis points from 5,75% to 6% per annum.

New Property Ventures has embarked on extending and refurbishing its new Absa on Grove acquisition in Claremont, Cape Town by two floors, providing an additional 3500 m2 of A-grade office space.

ABSA will on Wednesday findout whether its acquisition of Cape Town landmark development that includes the upmarket 15 on Orange Hotel, will be approved by competition authorities.

Double-digit growth in new housing planned in 2014, with the construction phase contracting from the previous year.

Growth in household credit and mortgage balances slows down further.

Growth in the planning phase of residential building activity continues, but the construction phase contracts unabatedly.

The FNB/BER building confidence index gains four points to 45 in the third quarter‚ indicating the sector is starting to turn itself around.

Planning phase of residential building activity showed double-digit growth in the first half of 2014, while construction contracted.

The planning phase of residential building activity in the South African market for new housing, as reflected by the number of building plans approved by local government authorities, recorded relatively strong growth in the first five months of 2014 April 2014 compared with the corresponding period last year.

The Reserve Bank's Monetary Policy Committee (MPC) has left the repo rate unchanged at 5.5% per annum.

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