Tuesday, 29 November 2016 11:56

Household credit and mortgage balances

Continued declining household credit and mortgage balances growth  The first ten months of 2016 saw growth in outstanding credit balances in the South African household sector slowing down to a much subdued 1% year-on-year (y/y), with the value of these outstanding balances at R 1 478,6 billion at the end of October.

Thursday, 29 September 2016 11:32

Household credit and mortgage balances

Growth in outstanding credit balances in the South African household sector remained low at 1,4% year-on-year (y/y) up to the end of August 2016.

Based on data published by Statistics South Africa, building activity in the South African market for new private sector-financed housing (see explanatory notes) remained under pressure in the first five months of 2016, with much subdued year-on-year growth in activity levels in May this year.

Second quarter 2016 statistics released by ooba show nominal house price growth of 2% year-on-year compared to the second quarter of 2015.

Home loan market still being driven by first time home buyers.  54% of applications are currently from first time homebuyers.

Property values have continued to grow in the past 12 months, with the average home price showing a year-on-year increase of just over 5% to R971 000 at the end of November, according to the latest statistics from BetterLife Home Loans, SA’s biggest mortgage originator.

If you are looking to buy a new home in the next few months, planning is essential, especially during the festive season.

Nedbank has been awarded the dual accolades of Best Retail Bank in South Africa award and Best Mortgage and Home Loans Product in Africa award for 2015 at The Asian Banker’s 2nd Annual Middle East and Africa Awards Ceremony.

Thursday, 19 March 2015 14:42

FNB Home Loans achieves solid growth

FNB’s Home Loan division is going strong, having grown advances by 6% on a year-on-year basis as at December 2014, and by 13% over the last 3 years.

FNB property strategist John Loos says the past ten years in the residential property sector has been a rollercoaster ride.

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