Household debt falls, according to Central Bank

Household debt falls, according to Central Bank

 

New figures from the Central Bank show that households’ net worth fell to €101,117 per capita in the first quarter of 2013.

The Central Bank said that household net worth resumed a downward trend, falling by €1.8 billion (0.4%) to stand at €463.7 billion mainly due to the value of people’s homes as overall house prices continued to fall.

The bank’s quarterly financial accounts show that household debt also fell further in the first three months of 2013.

It decreased by €1.6 billion or almost 1%, to stand at its lowest level since the end of 2006 at €172.3 billion.

This equates to €37,572 per capita.

The bank said that debt as a proportion of consumers’ disposable income inched 0.1 percentage points lower as the fall in debt was partly offset by a decrease in their disposable incomes.

Today’s figures also show that total government liabilities rose by €14.5 billion (6.8%) to €228.9 billion in the three month period.

 

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