In the first seven months of 2019 outstanding credit balances in the South African household sector (R1 687,8 billion) increased by 6,3% year-on-year (y/y), with growth slightly down from 6,5% y/y up to the end of June.

Growth in the value of outstanding credit balances in the South African household sector.

The value of outstanding credit balances in the South African household sector increased by 5,9% year-on-year (y/y) to R1 653,3 billion up to the end of February 2019 (3,9% y/y at end-February 2018), with growth in total credit balances as well as secured and unsecured credit balances remaining unchanged from end-January. 

Growth in the value of outstanding credit balances in the South African household sector was on a rising trend in the first seven months of 2018, with these balances amounting to a total of R1 587,5 billion at the end of this period.

ABSA Home Loans Property Analyst, Jacques du Toit, notes further uptick in household credit and mortgage balances growth.

The Reserve bank (SARB) Monetary Policy Committee (MPC) decided today to hike its policy Repo Rate by a further 50 basis points to 6.75%, a move that will see Commercial Banks raise their Prime rates to 10.25%.

The value of outstanding credit balances in the South African household sector increased by 4,5% year-on-year (y/y) to R1 463,8 billion at the end of October 2015.

According to Jacques du Toit, Property Analyst at Absa Home Loans, the first nine months of 2015 saw the value of outstanding credit balances in the South African household sector rising by 4,3% year-on-year (y/y).

Household credit and mortgage balances growth up on base effects .

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