Migration boosts W Cape building confidence

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(iStock)
(iStock)

Cape Town - Building confidence in South Africa has fallen to its lowest level since the first quarter of 2013, according to the latest FNB/BER Building Confidence Index released on Thursday.

The Western Cape, however, fared significantly better than the rest of the country both in terms of building confidence as well as building activity during the quarter.

This is likely due to increasing inward migration to the Western Cape by residents from other provinces, according to John Loos, property economist at FNB.

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