Monday 23 January 2017

Wealth effect is boosting confidence - but not the Coalition

Published 30/08/2015 | 02:30

‘The net worth of all Irish households combined was just shy of €600bn in the first quarter of the year’
‘The net worth of all Irish households combined was just shy of €600bn in the first quarter of the year’

On average, every man, woman and child in Ireland was worth just under €130,000 in the early months of the year, according to figures released by the Central Bank 10 days ago.

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That number - which includes the value of property, pensions, bank accounts and the like after debts are accounted for - is up by almost one third from 2012, when the economy was at rock bottom.

The sharp rise in the 'net worth' of Irish households over the past three years has reversed more than half of the massive destruction of wealth that occurred in the five years after 2007.

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