October LSSA Newsletter
South Africa - Law Society of South Africa
In this edition:
South Africa - TPN
Rental Market in “mediocre” territory with negative real rental growth. But that has a positive side...
In this edition:
Cape Town unveils inner-city housing plans
South Africa - IolProperty
Capetonians have been given an opportunity to engage with City of Cape Town plans for the development of sites in Salt River, Woodstock and the inner city for affordable and inclusionary housing.
The city held three open days at the Science Centre in Observatory at which people were able to interact with officials and study maps of the 11 city-owned sites.
They will be developed by the private sector and are all within 5km of Cape Town's CBD.
Residential building statistics
South Africa - Absa
Residential building activity remaining under pressure
Building activity in the South African market for new private sector-financed housing (see explanatory notes) remained under pressure in both the planning and construction phases in the first eight months of 2017, based on data released by Statistics South Africa.
The volume of building plans approved for new housing contracted by 0,9% year-on-year (y/y), or 349 plans, to a total of 36 469 plans in the period of January to August this year. Whereas the number of plans approved for new houses smaller than 80m² increased by 7,3% y/y in the 8-month period, plans approved in the segments for houses equal to or larger than 80m² and flats and townhouses contracted by 4,4% y/y and 5,3% y/y respectively since the start of the year.
The construction phase saw the number of new housing units reported as being completed rising by a largely subdued 1,1% y/y, or only 285 units, to 25 889 units in January to August this year. The segment for houses of 80m² and larger showed a contraction of 17% y/y, or 1 350 units, to a total of 6 582 units over this period, which contributed to the total building area of homes completed in this category declining by 9% y/y. The other two segments of housing recorded combined positive growth of 9,3% y/y in the construction phase over the eight months up to August.
Building stats Aug 2017