Irish wealth falls by 31% in one year

THE financial assets of Irish households fell by 31% last year, to €81.2 billion compared to €117.3bn the year before, according to figures from the Central Statistics Office.

The figures are based on the value of the deposits, shares, life insurance and pensions fund assets held by each household when set against liabilities, mainly made up of loans.

Much of the asset decline reflected the sharp fall in property values over the period.