Residential building activity in the planning phase improved, with the construction phase contracting in the first four months of 2018.

South Africa’s economy grew by 3.1% in the fourth quarter of 2017 ending the year on a strong footing, Statistics South Africa (Stats SA) announced on Tuesday.

Levels of building activity in the South African market for new private sector-financed housing (see explanatory notes) contracted on a year-on-year basis in both the planning and construction phases in the first half of 2017, based on data released by Statistics South Africa.  

The Reserve Bank’s Monetary Policy Committee (MPC) on Thursday reduced the repo rate by 25 basis points to 6.75%.

South Africa’s Gross Domestic Product (GDP) grew by 0.2% in the third quarter of 2016, Statistics South Africa’s Joe de Beer said on Tuesday.

Statistics South Africa (Stats SA) Deputy Director-General Joe de Beer says the country’s headline figure, the real gross domestic product (GDP), grew by 3.3% in the second quarter of 2016.

Building activity in the South African market for new housing showed some divergent trends in the first half of 2016.

Thursday, 21 July 2016 21:13

Repo rate unchanged in July

The Reserve Bank on Thursday kept the repo rate unchanged at 7% - in line with market expectations.

Based on data published by Statistics South Africa, building activity in the South African market for new private sector-financed housing (see explanatory notes) remained under pressure in the first five months of 2016, with much subdued year-on-year growth in activity levels in May this year.

Developing Africa’s first purpose-built aerotropolis, with its nucleus being Dube TradePort, home to King Shaka International Airport, is significantly impacting on north coast property patterns as the ease of access prompts investors to acquire second homes in the region.

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