Continued low-single digit growth in household credit balances

The first ten months of 2017 saw the value of outstanding credit balances in the South African household sector growing at a relatively subdued pace of 3,5% year-on-year (y/y) to an amount of R1 529,9 billion. Growth in outstanding household mortgage balances (R918,9 billion, with a share of 78,1% in total household secured credit balances and 68,6% in total private sector mortgage balances) was recorded at 3,3% y/y up to end-October.

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ABSA – Credit and mortgage advances (Oct 2017)