Preliminary results for the year ended 31 August 2018.

South Africa’s growth outlook has been revised downwards to 0.7% in 2018, said National Treasury on Wednesday.

JSE listed REIT Octodec Investments Limited today announced its full year results which were impacted by pressure on rental income growth, the lag effect of the let-up period at recent developments, and competitive pressures. A distribution of 203.4 cents per share was declared for the period.

Private sector-financed building activity (see explanatory note) in the South African market for new housing showed continued diverging trends on specifically a segment level in the first eight months of 2018, which caused the planning phase of new housing to have improved whereas the construction phase has contracted over this period.

Third quarter (Q3 18) statistics released by ooba, South Africa’s leading home loan originator, show that year-on-year from Q3 17 to Q3 18, the growth in the Average Purchase Price effectively remained static with a 0.1% increase. This continues the trend of negative real price growth (growth less inflation) in the residential property market.

Equites Property Fund Limited today announced growth of 11.7% in its distribution per share for the six months ended 31 August 2018 to 68.12 cents, as well as a 49% growth in the fair value of its property portfolio over the corresponding period in August 2017, from R6.8 billion to R10.1 billion.

Labour issues, late payment and slow growth ‘catastrophic’ for the sector, says Master Builders’ Association North.

The results of Consulting Engineers South Africa's (CESA) Bi-annual Economic and Capacity Survey for the period January to June 2018 recently released indicates positive news, that the construction sector has seen growth for the first time in six quarters. 

“Overall many key African hotel markets reflected a positive turnaround in tourism in the first half of 2018,” says CEO of HTI Consulting, Wayne Troughton. “Though many of these markets continue to trade off a low base, the positive growth in room nights sold bodes well for future occupancy increases and hotel supply,” he states.

Hammerson plc (“Hammerson”) has exchanged contracts for the sale of a 50% stake in Highcross shopping centre in Leicester for £236m. This represents a 5% discount to December 2017 book value allowing for capex associated with the proactive reconfiguration of the former House of Fraser store.

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