The South African economy continues to rebound from the 2020 recession, albeit at different growth rates across sectors, the South African Reserve Bank’s Financial Stability Review (FSR) has revealed.

Outstanding private sector mortgage balances (R1 465,5 billion and 38,2% of total privatesector credit balances of R3 839,4 billion), which include both corporate and household mortgage balances, increased at a rate of 6,7% y/y up to end-August (6,3% y/y at end- July). 

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 (y/y), with growth slightly down from 6,5% y/y up to the end of June.

It seems, no matter whether you’re talking to industry professionals in the boardroom or friends around the braai, that confidence in the property market is low.

SARB Leading Business Cycle Indicator – Further decline in June SARB Leading Business Cycle Indicator reading suggests likely further new mortgage lending and building weakness.

The laborious bond application process is even more painstaking for the self-employed and it’s critical that these buyers take the time beforehand to familiarise themselves with exactly what is required and the criteria to be met as applications can easily be delayed - or even declined - due to simple omissions or errors.

Credit and mortgage balances in the first half of 2019, with divergent home loan repayment patterns evident across household income categories up to mid-2019.

New Mortgage Lending continued its year-on-year decline in the 1st quarter of 2019, with the Commercial Mortgage Lending and New Building Mortgage categories being the major “drag”

Growth in the value of outstanding credit balances in the South African household sector (R1 669,6 billion) was only slightly higher at 6,1% year-on-year (y/y) at the end of May 2019 from 6% y/y at end-April when outstanding balances came to R1 660,9 billion.

Growth in the value of outstanding credit balances in the South African household sector (R1 660,9 billion) remained relatively stable in the first four months of 2019, recorded at 6% year-on-year (y/y) at the end of April this year.