Year-on-year (y/y) growth in the value of outstanding credit balances in the South African household sector was recorded at 3,7% at the end of July 2015 and has been below the 4% level for the past twelve months. Growth in the value of household secured credit balances (R1 094,2 billion and 75,7% of total household credit balances) was unchanged at 2,9% y/y at end-July from the end of June. Growth in instalment sales balances slowed down further to 3,8% y/y, whereas growth in mortgage … [Read more...] about Household credit and mortgage balances growth remains low
mortgage
Continued low growth in household credit and mortgage balances
The first six months of 2015 saw growth in the value of outstanding credit balances in the South African household sector remaining low at a level of around 3,5% year-on-year (y/y) since August last year. Growth in the value of household secured credit balances (R1 090,6 billion at end-June and 75,8% of total household credit balances) was down to 2,9% y/y from 3,2% y/y at the end of May. The somewhat slower growth was the result of instalment sales balances growing increasingly slower (4% … [Read more...] about Continued low growth in household credit and mortgage balances
