Household debt continues to fall as net worth rises - Central Bank

Thursday 30 January 2014 11.59
Householders have continued to pay down debt during recent months
Householders have continued to pay down debt during recent months

Household net worth saw its biggest increase in nearly seven years between July and September 2013, according to figures from the Central Bank, rising 3.5% to €489.6 billion.

The figure, which relates to the value of assets held by households, is equivalent to €106,605 per capita.

Meanwhile household debt continued to decline during the quarter, falling by almost 1% to €168.6 billion.

Debt as a proportion of disposable income also fell during the three month period, down more than two percentage points to 196.1%.

According to the Central Bank, domestic net lending is now at its highest level since it began recording the figures in 2003.

Meanwhile, Government liabilities rose during the third quarter to €231.2 billion, while non-financial corporation debt as a percentage of GDP fell by almost five percentage points to 214%.