First of all we have to install SIP binary, I found some issue linking the binary to Python Qt therefore, I've used Hombrew to do the job
brew install sip
Let's force the symlinks creation if there is any previous versions of SIP
brew link --overwrite sip
Now, on the terminal type
pyhon
then, verify that you have the latest version of SIP
import sip
sip.SIP_VERSION_STR
PyQt 5 time, after Qt 5 library installation we setup PyQt
First we have to download dist from https://www.riverbankcomputing.com/software/pyqt/download5
wget http://sourceforge.net/projects/pyqt/files/PyQt5/PyQt-5.6/PyQt5_gpl-5.6.tar.gz
gunzip PyQt5_gpl-5.6.tar.gz
cd PyQt5_gpl-5.6
Once downloaded we proceed with *nix based setup, conventional way
python configure.py --qmake ~/Qt/5.7/clang_64/bin/qmake --sip=/usr/local/Cellar/sip/4.18/bin/sip
make
make install