Friday, 18 October 2019 09:24

Residential building statistics

Continued evidence of some diverging trends at segment level in the planning and construction phases of residential building activity.

The City of Johannesburg’s Housing department has won a Sustainable Cities and Human Settlements Award at United Nations 14th Annual Session of the Global Forum on Human Settlements in Ethiopia for its South Hills mixed income housing development, south of Johannesburg.

The first quarter of 2019 saw significant diverging trends at a segment level in private sector financed residential building activity in South Africa.

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 2008/09.

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.

Data published by Statistics South Africa with regard to private sector-financed residential building activity (see explanatory note) showed that the planning phase of new housing improved in the first seven months of 2018, whereas the construction phase contracted.

The planning phase of residential building activity improved in the first half of 2018, but the construction phase contracted sharply.

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

Various industrial office and retail property investment and owner occupier opportunites are on offer, as well as a significant development project.

Home owners and developers have been warned about being over-optimistic about the effects of the proposed Coega development outside Port Elizabeth on local house prices.

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