Property Markets: July building statistics – Less weakening than in previous months, but still a taleof woe
17 September 2008 | Investments | General | FNB John Loos
The StatsSA release of July Building Statistics today continued to reflect a weak picture in the area of residential building activity, although the pace of weakening did appear to slow.
For the month of July, on a year-on-year basis, there was less deterioration than in the previous month, with the number of units completed declining by -10.9%. This is compared to June’s decline of -21.6%. Building plans passed (number of units) showed a surprising uptick in July, rising year-on-year by +16.1% compared with a decline of -36.5% in the previous month.
In terms of square metreage, building completions declined by a further -12.3% year-on-year in July, following a –21.6% decline in June.
Click here to read the full report (PDF file 102kb)
