Net household wealth rises to €883bn during pandemic — but the gains are spread unevenly    

Central Bank points out that, despite the headline €177k per person figure, household pay has fallen

The Central Bank says its net wealth figures 'may not reflect the underlying experiences of all households, or the distribution of wealth'.

The net wealth of households reached a new record of €883bn in the early months of this year, new figures show, but the high level of pandemic-related unemployment payments suggests that the gains are far from evenly spread.  

The Central Bank figures show that an increase in the value of financial investments including pensions during the pandemic, as well as the continued rise in house prices and older people paying down their mortgages, helped to lead to a further sharp rise of net household wealth of €28.5bn in the first quarter this year from the final quarter in 2020.