New figures from the Central Bank show that household net worth rose by 3.6%, or €32 billion, to a series high of €935 billion in the second quarter of this year.

This equates to €186,589 per capita.

The Central Bank said the rise in household net worth was driven by a combination of growth in financial assets (€13 billion) and housing assets (€19 billion).

But it noted that the rise in average household wealth does not capture the wealth distribution effects across the population and the underlying experiences of individual households may vary.

The Covid-19 pandemic is likely to have had varying effects on the wealth of different household groups, the bank added.

The Central Bank said that while gross household savings declined by €0.9 billion in the second quarter of this year, they still remain elevated compared to pre-pandemic levels.

It said the fall in savings was due to increased consumer spending after the lifting of some Covid-19 public health restrictions between April and June this year.

Today's Central Bank figures also show that government debt rose by €2.2 billion to hit an all-time high of €259 billion in the second quarter of 2021 due to increased spending on Covid supports.

In response to the Covid-19 pandemic, the Government introduced measures to increase the capacity of the health sector and provide supports to businesses and households.

These measures were established in March 2020 and have remained in place up to and including to the end of June 2021.