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SA households poorer than in 2013 - index

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Cape Town - The real net wealth per household in South Africa decreased to levels below that of 2013, according to the SA Household Wealth Index for the fourth quarter of 2015 released by Momentum and Unisa on Wednesday.

The deterioration in the real value of household net wealth is because the real value of household assets declined further in 2015, while their real liabilities increased. Real net wealth per household is estimated at R379 813 in 2015 – which is R6 302 lower than the R386 115 registered in 2013.

According to the report, the strength or weakness of households’ balance sheets as reflected by their liabilities, assets and net wealth, count among some of the most important economic indicators in SA. This is because a strong balance sheet is needed for households to be financially well, which, in turn is essential for their resilience to deal with shocks and to contribute to economic growth.

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