Tuesday 15 October 2019

Disposable incomes fall in Louth

Olivia Ryan

Disposable incomes for Louth families have fallen dramatically in recent years, according to new figures from the Central Statistics Office (CSO).

People living in Louth were recorded as having €18,369 to spend after tax in the most recent figures (2017) released last week.

This is €4,801 lower than in 2008, when the disposable income per person in Louth was recorded as €23,445.

It is also €2,753 lower than the State average of €21,397.

Although the figures are for income after tax, they do not take into account large household deductions such as rent or mortgage payments.

Rents have risen to an almost record level in Louth, with the latest figures from the Residential Tenancies Board (RTB), indicating that the average monthly rent in Louth was €1,022.

Louth is among a number of border counties where disposable incomes have fallen considerably since the 'boom' years.

Indeed, only Dublin, Limerick and Kildare reported a disposable income per person in 2017 that was higher than the State average.

Dublin residents enjoy the greatest level of disposable income with an average of €24,431 - some 18.4pc higher than the average State figure of €20,638.

A number of regions had disposable income levels well below the national average - the Border area recorded an average of €17,370, the West recorded €18,363, and the Midlands recorded an average of €17,717.

The border area, including County Louth was the lowest of the eight areas, and is 15.8pc below the national average.

A spokesman for the Central Statistics Office said: 'The gap between the maximum and minimum value of per capita disposable income, on a regional basis, increased from €6,617 in 2015 to €7,061 in 2016, due to Dublin regional incomes increasing by €982, while those of the lowest region, the Border, increased by €538.'

The Argus