Wednesday, 12 September 2018 13:10

South African millennials are buying homes

Millennials in South African have purchased homes in great numbers in recent years. According to statistics supplied by property group Lightstone, almost 330 000 millennials bought homes in South Africa between 2015 and 2017 and 70% of them were first-time homebuyers.

The first three quarters of 2017 saw building activity in the South African market for new private sector-financed housing (see explanatory notes) contracting in both the planning and construction phases compared with the corresponding period last year, based on data released by Statistics South Africa.

The value of outstanding credit balances in the South African household sector continued to show relatively low growth in the first nine months of 2017, rising by 3,3% year-on-year (y/y) to a level of R1 522,6 billion.

Perceptions about the property market improved in the third quarter.

Building activity in the South African market for new private sector-financed housing 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.  

Outstanding credit balances in the South African household sector increased by 3,4% year-on-year (y/y) to R1 520,2 billion in the period January to August  2017.

Building activity in the South African market for new private sector-financed housing showed some marginal improvement on a year-on-year basis in both the planning and construction phases in the first seven months of 2017, based on data released by Statistics South Africa.

Wednesday, 30 August 2017 13:30

Household credit and mortgage balances

Outstanding credit balances in the South African household sector increased by 3,3% yearon-year (y/y) to a level of R1 514,8 billion in the seven months up to the end of July 2017 on the back of trends in secured and unsecured credit balances.

Levels of building activity in the South African market for new private sector-financed housing (see explanatory notes) contracted on a year-on-year basis in both the planning and construction phases in the first half of 2017, based on data released by Statistics South Africa.  

Low growth in household credit and mortgage balances in the first half of 2017, with home loan repayments showing homeowner financial strain.

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