Household wealth jumps by 6%

HOUSEHOLDS are continuing to hold onto their cash for a rainy day while also cutting debt.

Figures from the Central Bank show that for the fourth quarter of 2010 household net wealth jumped by 6% to €99 billion or €22,125 per head.

The level of households’ loan repayments continued to exceed new loans which led to the largest decease in household liabilities to date, the Central Bank said.