25% of homeowners forced to sell due to financial constraints - FNB

Loading player...
GUEST - Siphamandla Mkhwanazi, FNB Senior Economist

Financial pressure-induced property sales remain elevated in South Africa, with almost a quarter of all sellers giving up their homes because they can no longer afford them. FNB data for Q3 2023 shows that 23 percent of homes put on the market are due to financial pressure, a figure that is relatively unchanged from the previous quarter.

While this may be viewed as a bit of a positive – because the numbers are not growing – this level is still higher than the historical average of 18 percent since the end of 2007.
6 Nov 2023 3PM English South Africa Business News · Investing

Other recent episodes

BofA Slashes SA Growth Forecast as Inflation Surges

Bank of America has cut South Africa’s 2026 GDP growth forecast to 1.3%, warning that higher oil and fertilizer prices will keep inflation above 4% for most of the year. Economist Tatonga Rusike explains
23 Apr 3PM 11 min

Understanding SA’s First Wealth Score

Franc unveils South Africa’s first-ever Wealth Score, revealing that financial habits—not income—are the strongest predictor of financial health. We unpack why SA’s national score is 45/100 and the behavior gap between knowing and doing with Dr. Thomas Brennan, founder and CEO of Franc.
23 Apr 3PM 13 min

Clicks Lifts HEPS 8% Despite Warehouse Disruptions.

Clicks delivered firm interim results with diluted HEPS up 8.1%, even as warehouse system delays cost an estimated R175 million in lost sales. CEO Bertina Engelbrecht discusses pharmacy growth, trading margins, and festive‑season competition.
23 Apr 2PM 16 min