{"id":176177,"date":"2025-06-11T17:03:21","date_gmt":"2025-06-11T17:03:21","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/176177\/"},"modified":"2025-06-11T17:03:21","modified_gmt":"2025-06-11T17:03:21","slug":"one-in-10-irish-households-have-net-wealth-of-more-than-e1m-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/176177\/","title":{"rendered":"One in 10 Irish households have net wealth of more than \u20ac1m \u2013 The Irish Times"},"content":{"rendered":"

The wealthiest 10 per cent of households in the State have a net wealth, over debt, of at least \u20ac1,024,000, up from \u20ac838,000 in 2020 and the highest ever recorded.<\/p>\n

The wealth divide was highlighted in the latest household finance and consumption survey from the Central Statistics Office<\/a> (CSO), which found that the bottom 10 per cent of households have a net wealth of at most \u20ac2,400.<\/p>\n

The figures, which relate to 2023, show that more than two-thirds, 67 per cent, of all households owned their main residence in 2023, either with or without a mortgage. This is down from 69.6 per cent in 2020.<\/p>\n

The median value of the residence was \u20ac340,000, an increase of \u20ac80,000 or 30.8 per cent on the \u20ac260,000 reported three years prior.<\/p>\n

The CSO\u2019s survey indicated that the median or midpoint net wealth value of Irish households in 2023 was \u20ac256,900, an increase of \u20ac58,500 or 29.5 per cent since 2020 when it was \u20ac198,400.<\/p>\n

[\u00a0\u2018Retired households\u2019 hold 27% of net wealth in Ireland, says GoodbodyOpens in new window<\/a>\u00a0]<\/p>\n

The only household age group to see a fall in median net wealth was those under 35, where median net wealth fell from \u20ac27,600 in 2020 to \u20ac23,400 in 2023.<\/p>\n

Households where the reference person was aged 65 and over had a value of \u20ac404,200. The CSO warned that, with the overall share of the over 65 population growing from 12.3 per cent in 2020 to 15.3 per cent in 2023, can result in a \u201chigher net wealth at a national level\u201d but can also \u201chide trends\u201d in younger households.<\/p>\n

Net wealth was found to be highest in the eastern and midlands region, which includes Dublin. The region had a median value of \u20ac264,400 in 2023. It was followed by the southern region at \u20ac251,700, and the northern and western region at \u20ac239,000.<\/p>\n

Net wealth is calculated by adding the total value of assets, such as a home, shares, pensions and cash savings, and subtracting debt owed or liabilities.<\/p>\n

Renters<\/b><\/p>\n

The survey found that owner-occupiers had a median net wealth of \u20ac391,600 in 2023 compared with \u20ac10,200 for those who rented. This gap has widened since 2020, when it stood at \u20ac303,900 for owner-occupiers and \u20ac5,300 for renters.<\/p>\n

Property is the primary source of wealth in Irish households, 46 per cent of gross wealth came from the value of the main residence.<\/p>\n

The CSO found that 30 per cent of households had a mortgage on their main residence with the median outstanding balance being \u20ac117,900. While households with mortgages had a median loan-to-value ratio of 45.2 per cent in 2020, that fell to 36 per cent in 2023, driven by house price increases in the period.<\/p>\n

Amid rises in the cost of living, the number of households that reported expenses higher than their incomes in the past 12 months almost doubled. In 2020, the figure stood at 7.5 per cent, rising to 13.6 per cent of households in 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"The wealthiest 10 per cent of households in the State have a net wealth, over debt, of at…\n","protected":false},"author":2,"featured_media":176178,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,55175,1700,6334,1270,16,15],"class_list":{"0":"post-176177","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-central-statistics-office","10":"tag-economy","11":"tag-housing-crisis","12":"tag-renting","13":"tag-uk","14":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114665816250131666","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/176177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=176177"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/176177\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/176178"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=176177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=176177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=176177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}