Household net worth hit a record high in the fourth quarter of 2020 as savings continued to rise and housing assets increased, new data from the Central Bank has shown. The final three months of the year saw household net worth rise by 2.9 per cent, reaching a high of €855 billion, or an average of €171,769 per capita. This was driven by a €1 billion increase in household savings during the fourth quarter, bringing the latest figure to €7.4 billion as the pandemic restricted spending and triggered precautionary saving. It is considered a crude measure of prosperity as it hides the distribution of household assets and liabilities across income groups and age categories. Annual increaseOver the year, net worth increased by €49 billion, continuing the trend seen since 2012.

Source: The Irish Times May 06, 2021 14:39 UTC