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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.

Ongoing subdued household credit and mortgage balances growth.

The value of outstanding credit balances in the South African household sector showed growth of 2,9% year-on-year (y/y) to a level of R1 505,5 billion at the end of the first four months of 2017.

 Residential building activity remained under pressure in both the planning and construction phases of the South African market for new housing in the first quarter of 2017.

Growth in the value of outstanding credit balances in the South African household sector slowed down further to 0,4% year-on-year (y/y) to R1 501,7 billion up to the end of February 2017.

The first month of 2017 saw building activity with regard to new private sector-financed housing in South Africa (see explanatory notes) contracting by a relatively large margin, based on data published by Statistics South Africa.

The first month of 2017 saw the value of outstanding credit balances in the South African household sector rising by a much subdued 0,6% year-on-year (y/y) to R1 494,2 billion, after growth of 0,7% y/y at end-2016.

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