Signs of life in construction sector?
Could last year’s unexpected surge in housing sales help lift a weak construction sector?
There was a marked rebound in the number of new building plans that were passed in the third quarter of last year for houses bigger than 80m² and for flats and townhouses, albeit off the second quarter’s extremely low lockdown-related base.
Latest data released by Stats SA shows that 6,366 building plans for new residential units were passed in the third quarter after a record low of 2,682 in the second. The third quarter’s figures are still below the 7,970 of the first quarter of 2020, but the rebound has nevertheless been fairly quick...