Household wealth up to more than €100,000 per person

Household wealth up to more than €100,000 per person

Household net worth increased by €100,674 per capita in the last three months of 2012, Central Bank figures have revealedt.

It was the second consecutive quarter increase, reaching a total of €461.6bn, represented an increase of 1% or €4.7bn over the quarter.

The rise in net worth largely reflected the continued reduction in household liabilities (€2.8bn), as well as further investment in financial assets (€2bn).

The average person in Ireland owes €37,928, according to the report.

This represents a decline of 1.7% the largest reduction in household debt since Spring 2010.

Household debt to disposable income, an indicator of debt sustainability, fell to 201.6%, its lowest level since Q4 2006.

Household Debt as a proportion of total assets also declined during Q4, to stand at 27%.

Total Government liabilities rose further during Q4 2012, reaching €214.4bn. This represented an increase of 1.4% or €3bn.

Non-financial corporation debt declined to 184% of GDP, the lowest since Q3 2010.

This represented a decline of €22bn or 14% of GDP, compared with the previous quarter.

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