Research

Absa: Household credit and mortgage advances

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. The outstanding value of household mortgage balances showed growth of 2,8% y/y over the six-month period up to end-June. Year-on-year growth in this component of household credit balances remained below 3% for the past 2½ years, largely reflecting conditions with regard to the state of household finances and consumer confidence.

Read more here: Credit and mortgage advances (Jun 2015)