Uptick in household credit and mortgage balances growth

Posted On Monday, 30 September 2019 20:02 Published by
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Outstanding private sector mortgage balances (R1 465,5 billion and 38,2% of total privatesector credit balances of R3 839,4 billion), which include both corporate and household mortgage balances, increased at a rate of 6,7% y/y up to end-August (6,3% y/y at end- July). 

 Jacques_Du_Toit_Absa_Home_Loans

Growth in the value of outstanding household mortgage balances (R993,3 billion and 77,4% of total household secured credit balances and 67,8% of total private sector mortgage balances) came to 4,9% y/y at end-August (4,6% y/y at end-July). This was the highest year-on-year growth in mortgage balances since the end of November 2010. The 

value of mortgage balances is the net result of all property transactions related to mortgage loans, including additional capital amounts paid into mortgage accounts and 
extra monthly payments above normal mortgage repayments. 

Trends in and the outlook the macro economy, as well as household sector finances, consumer confidence and property market sentiment will continue to drive the demand for and growth in household credit and mortgage finance. 

Last modified on Monday, 30 September 2019 20:11

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