Residential building activity in the South African market for new housing continued to experience pressure up to February 2014, based on data released by Statistics South Africa.Especially the construction phase of new housing showed a significant contraction in the first two months of the year compared with the corresponding period last year. Levels of residential building activity will continue to be driven by conditions and trends in the economy, the state of household finances, consumer and building confidence and other factors related to the demand and supply of new housing.
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