South Africa Household Sector Overview (Quarterly Report)
A quarterly overview of the trends pertaining to the household sector. Household income, consumption expenditure (HCE) and saving trends are analysed and 5-year forecasts for the detailed HCE components are provided. Household credit and debt developments are also analysed.
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After having grown at around double the rate of inflation during 2010-2014, household total net (nominal) wealth rose by 11% in 2017, but declined by 1.6% in 2018.
Household net saving has come under severe pressure after 2005 with dissaving (negative net saving) having been recorded for each year during 2006 to 2016.
Nearly all of the goods and services product categories experienced price inflation over the past few years — with some exceptions occurring in the durable goods category.
Mortgage loans accounted for 32.3% of total loans and facilities granted to households in the second quarter of 2015, while other secured loans accounted for 32.4% of credit extended.
Mortgage loans accounted for 31% of total loans and facilities granted to households in the first quarter of 2015, while other secured loans accounted for 35% of credit extended.
