Household Credit and Mortgage Balances – July 2019

In the first seven months of 2019, outstanding credit balances in the South African household sector (R1 687,8 billion) increased by 6,3%  year-on-year, with growth slightly down from 6,5% y/y up to the end of June.

Growth in the value of outstanding household mortgage balances (R987,5 billion and 77,4% of total household secured credit balances and 67,8% of total private sector mortgage balances) came to 4,6% year-on-year at end-July (4,7% year-on-year at end-June).

Developments on the front of the macro economy, as well as household sector finances, consumer confidence and property market sentiment will be the driving factors of growth in household credit and mortgage balances, which is forecast at 5,9% and 4,3% respectively for the full year.