Irish household net worth increases – Irish Central Bank

Household net worth rose by 3.5 per cent during Q3 2013, marking the largest increase since Q4 2006. By the end of the quarter, it stood at €489.6bn, equivalent to €106,605 per capita.

Household debt continued to decline during Q3 2013, falling to €168.6bn or €36,717 per capita. This represented a decline of €1.6bn over the quarter.

Indicators of household debt sustainability improved further during Q3 2013 but remain high by international standards. Debt as a proportion of disposable income declined by 2.1 percentage points, falling to 196.1 per cent.

Debt to total assets fell by 0.8 percentage points to 25.2 per cent. Domestic net lending is now at its highest level since the series began in 2003.

Government liabilities continued to rise during Q3 2013, reaching €231.2bn. This represented an increase of €2.2bn compared to the previous quarter. Non-financial corporation debt as a percentage of GDP continued its decline, as it fell by 4.8 percentage points to reach 214 per cent, the lowest since Q3 2010.

The domestic economy continued to be a net lender during Q3 2013, as the combined deleveraging by  households and financial corporates outstripped the net borrowing of government and non-financial corporates.

Domestic net lending is now at its highest level since the series began in 2003

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