Property prices lift household wealth to new peak
As well as property prices, the rise in household wealth reflects a significant reduction in household debt in the past few years, according to the Central Bank
Figures from the Central Bank show thathousehold wealth in Ireland reached a new high in the final quarter of last year, mainly due torising house prices.
Household net worth rose by 2.1 per cent during the quarter to €726.8 billion, and moved above its previous peak, hit in 2007 just before the financial crisis. The figure has jumped by almost 70 per cent since its low point of €430 billion in 2012.
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