The year-on-year (y/y) growth in the value of total mortgage advances by monetary institutions (the net outstanding balance on mortgage loans at these institutions) slowed down to 9,4% in May 2009, from 10,6% in April, according to data released by the South African Reserve Bank. This was the lowest and also the first single-digit year-on-year growth in outstanding mortgage balances since September 2000. On a month-on-month basis the outstanding balance on mortgage loans was marginally higher in May, after growth of 0,1% was recorded in April compared with March.
Mortgage advances growth in single digits
Private Property South Africa
Looking to sell your home?
Advertise your property to millions of interested buyers by listing with Private Property now!Find out more
Private Property appoints new CEO
Deceased estates: When a love one leaves you property
Don't let overcritical house guests ruin your holiday
5 ways to achieve your property dreams in 2019