South African households were collectively R1.23 trillion poorer in the three months to the end of June, when compared to the corresponding period in 2021.
South African households are now collectively more than R1.2 trillion poorer than a year ago, for the three months to end June.The drop was mostly because of a 10% drop in the value of household financial assets.
An increase in interest rates in major economies, has also made it more attractive for investors in those markets to keep their money there, rather than invest it in SA. “It is estimated outstanding household debt increased to R2.67 trillion in the second quarter 2022, while household assets decreased to R18.42 trillion.”
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