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More than half of SA homeowners have fully paid off their homes - data

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Johannesburg – The majority of South Africans living in formal dwellings, own and have fully paid for their homes. 

This is according to the General Household Survey for 2016, released by Statistics South Africa (StatsSA) earlier this year. The survey is drawn up from a sample of private households across the nine provinces and includes residents in worker’s hostels. It measures the level of development in the country.

ABSA also released its Homeowner Sentiment Index (HSI) recently, revealing that two thirds of South Africa prefer buying a home over renting. 

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