Residential building plans have slowed into negative growth territory in South Africa, reported Absa.
The property strategist found that growth turned negative by a total of -12.9% when compared to last year. Interestingly, this comes off the back of a +11.8% increase over the second quarter of this year. “However, it was still too early to see negative growth in completions as of the 3rd quarter of 2022, with the number of units completed still growing positively year-on-year by +3.5% in that quarter. However, this growth rate represents a marked slowdown from the +19.6% rate of the prior quarter,” said Loos.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ROB ROSE: Can South Africa avoid a wave of company collapses?A toxic economy has felled many of South Africa's largest firms in recent years and yet, thanks to an imperceptible resilience, many have toughed it out, writes robrose_za.
Source: FinancialMail - 🏆 20. / 63 Read more »