The Credit Stress Report 2022 Q3 is out
The Credit Stress Report 2022 Q2 is out
September 12, 2022
The Credit Stress Report 2022 Q4 is out
June 22, 2023
Business concept. Business people discussing the charts and graphs showing the results of their successful teamwork.
Eighty20 and XDS Credit Bureau have partnered to bring you the quarterly Credit Stress Report.
This quarterly report highlights the impact of economic forces on the South African consumer, with a particular focus on consumer credit behaviour. In the 2022 Q3 report, we see signs of rising credit stress among South Africa’s middle-income consumers.
In addition to the most recent interest rate change on 24 November, South African consumers were hit with two rate hikes in Quarter Three. With the Prime Lending Rate 3.25% higher than this time last year, someone with a R1.5m home loan (which will get you a one-bedroom flat in Cape Town City Bowl) has to find an additional R3,000 per month just to cover their instalments.
The report unpacks how economic forces are starting to put significant financial pressure on South Africans, particularly middle-income consumers with vehicle finance and home loans. It might be a tough Christmas for some.
66% of middle-income salaries go towards servicing loans
