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CSO: East and Midlands 'more wealthy' than North and West

The Central Statistics Office (CSO) says the eastern and midlands' regions are more wealthy than ...
Jack Quann
Jack Quann

12.39 30 Jan 2020


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CSO: East and Midlands 'more w...

CSO: East and Midlands 'more wealthy' than North and West

Jack Quann
Jack Quann

12.39 30 Jan 2020


Share this article


The Central Statistics Office (CSO) says the eastern and midlands' regions are more wealthy than the north and west.

That is based on a 2018 household finance and consumption survey.

It found that average net wealth has increased by 80.2% since 2013, with Irish households having a median net wealth of €184,900.

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The value of a residence is seen as a key component of wealth.

The average value of a households' main residence is €250,000 - up from €150,000 in 2013.

It found that net wealth is highest in the eastern and midlands regions, with a median value of €212,700.

This is compared to €189,700 in the south, and €146,900 in the north and west.

The results show that in Ireland, the wealthiest 10% of all households have a net wealth greater than €835,000 - while the bottom 10% have a net wealth of less than €1,000.

wealth Source: CSO

Net wealth is calculated as the value of all assets minus debt.

Just over half of all households have some form of debt - including mortgages, loans, credit cards and overdrafts - down from 56.8% in 2013.

And over two-thirds of the wealthiest 10% of households have received a "substantial" inheritance or gift.

However, this varies depending on how wealthy a household is.

Almost 68% of the wealthiest 10% of households received a substantial inheritance or gift - but this drops to just over 10.3% for the 10% with the lowest net wealth.

In Ireland, 69.5% of households own their own residence.

The median net wealth of households that own their own home is €287,300 - while for renters it is considerably less at €5,900.

More than nine out of every 10 households own some form of financial asset including savings, shares, bonds, investments and voluntary pensions.

In 2013, 31.9% of all homes owned with a mortgage were in negative equity - whereas the 2018 rate is 3.9%.


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