Irish households are paying down debt at a faster rate than any other country in the European Union.

The Central Bank's quarterly financial accounts for the third quarter of 2016, the most recent period for which figures are available, show household debt here fell by €900m during the three month period to €145.3 billion.

Household debt in Ireland per capita now stands at €31,096.

The Central Bank figures show debt as a proportion of income fell here at a faster rate than in any other EU member state over the past 12 months.

The net worth of Irish households also rose during the quarter, largely due to increases in house prices during the period.

Overall household worth rose by 3.9% during the period to €661 billion.

The average net worth of an Irish household was €141,427 at the end of the quarter, today's figures show.