Continued subdued growth in household credit and mortgage balances

2015 started off with continued low growth in the total value of outstanding credit balances in the South African household sector, with year-on-year (y/y) growth below the 4% level for the sixth consecutive month in January. Growth in household unsecured credit balances was lower compared with December last year, while growth in secured credit balances was at its lowest level since January 2012. Growth in outstanding household mortgage balances was virtually flat at 2,2% y/y at end-January from 2,3% y/y at end-December.

View more here – ABSA – Credit and mortgage advances (Jan 2015)