Johannesburg - At least 83 percent of nearly 14 million households do not earn
enough to qualify for bank home loans, according to the latest statistics
released by the SA Institute of Race Relations (SAIRR).
"The income figures demonstrate the pressure on the
state's housing delivery programmes with 60% of all households eligible for
government-subsidised housing," said Kerwin Lebone from the institute's
research department on Thursday.
In 2009, only 12% of households earned enough to qualify for
an unassisted bank mortgage, the SAIRR said in a statement.
Only 700 000 households qualified for bank finance in the
affordable housing sector.
These figures emanate from a 2011 report by the Financial
and Fiscal Commission.
In 2009, at least 60% of households earned R3 500 or less a
month and qualified for a state housing grant.
Seven percent of households earned between R7 000 and R10
500, which did not allow them to qualify for government housing programmes and
not enough to get a bank mortgage.
It said the number of informal backyard dwellings rose by
83% between 1996 and 2010.
"People who were on the waiting list of government
housing programmes, and the majority of those that do not qualify for such
programmes, often migrated to backyard dwellings that offered cheaper
rentals," the SAIRR said.