By Sbongile Nonyana
Minister of Human Settlements Mmamoloko Kubayi wants the government to change its policies to help more previously disadvantaged South Africans become homeowners.
Speaking in Hatfield, Pretoria, on Monday, Kubayi discussed South Africa’s ongoing housing crisis.
Between 2018 and 2022, about six million mortgage and home loan applications were processed by banks.
Of these, two million were from people with past advantages, and just over one million were approved.
Four million applications were received from historically disadvantaged individuals, but many were rejected. The home loan rejection rate is high, around 68%.
Kubayi said that many people who are earning a salary and wanting to buy a house are still denied loans.
“Some people apply online and get rejected. Others go to a branch with their payslips but are told they can’t afford a house,” she said.
The minister said households earning between R3,501 and R22,000 a month are the most affected.
These families don’t qualify for mortgage loans or fully subsidised housing, leaving them stuck in the middle.
“[These people] are struggling to access houses,” Kubayi said.
She spoke about the importance of property ownership for economic growth.
“We want to make sure that previously disadvantaged people have access to property and can own homes,” Kubayi said.
The minister said the government is working on solutions to make housing more affordable for middle-income earners.
This includes programmes like first-home finance, social housing, and a rapid land release programme to help people build their homes.
Pictured above: Minister Mmamoloko Kubayi at the Ronnie Mamoepa Media Centre, Hatfield, Pretoria.
Source: X
