Irish households reach all-time high of net worth, but it 'masks high household debt'

Irish households reach all-time high of net worth, but it 'masks high household debt'

The net worth of Irish households has hit an all-time high of €757bn.

The Central Bank says household net worth per capita is almost €156,000.

Rising property prices and the growing value of investments is driving the figures.

However, the Central Bank is concerned that Irish households have some of the highest debt levels in Europe.

Mark Cassidy, Director of Economics and Statistics at the Central Bank, said: "The net worth of Irish households continues to increase and it reached a new peak in the second quarter of this year, but the data show that this increase in net wealth masks the fact that overall household debt, while it is continuing to decline, is still high.

"Irish households are still the fourth most-indebted in Europe."

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