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.

The 2017 national Budget was tabled in the South African Parliament by the Minister of Finance, Pravin Gordhan, on Wednesday, 22 February 2017.  

The value of outstanding credit balances in the South African household sector increased by a negligible 0,7% to R1 485,7 billion in 2016, down from growth of 4,5% in 2015.

Building activity with regard to new private sector-financed housing in South Africa remained much subdued in the first eleven months of 2016 compared with the corresponding period in 2015, based on data published by Statistics South Africa.

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