Is the number of South Africans living in their own homes declining?


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The general household survey conducted by Statistics South Africa which was released this month shows that the number of South Africans living in their own homes which they have fully paid for has declined from a peak of 61.4 percent in 2008 to 54.9 percent last year.

The figures do not show whether people are losing their homes or whether there has been an increase in the number of households with most not owning their homes.

The survey says in 2002, only 52.9 percent of South African lived in their own fully-paid homes. This figure increased peaking at 61.4 percent in 2008 but declined to 53.5 percent in 2011 before increasing again to 54.5 percent in 2012 and 54.9 percent last year.

The survey showed that there were 15.1 million households in South Africa last year and 8.3 million owned homes that were fully paid for. Some 3.2 million were renting, while 1.9 million were living in rent free homes. Another 1.4 million owned their homes but were still paying for them.

While the majority of South African households are living in homes that have been fully paid for, figures from the National Credit Regulator show that there are 20.64 million credit-active consumers and just over half are in good standing.

The latest figures are for December last year and they show that only 10.71 million consumers were in good standing. A staggering 9.93 million had impaired records with 2.6 million having judgments and administration orders pending.

 

*Click here for our mortgage book whuch is also available on smartphones

(20 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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