Indebtedness fell 1.1% in Q4 of last year

Household indebtedness fell by 1.1 per cent during the fourth quarter of last year to €184.6 billion, or €41,169 per capita, according to the latest figures from the Central Bank.

Overall household liabilities have decreased 13 per cent from the peak of €212.2 billion at the end of 2008.

The ratio of household debt to disposable income, an indicator of household debt sustainability, stood at 207.8 per cent, its lowest level since the second quarter of 2007.

Household net worth declined 3.4 per cent during the fourth quarter, to €457.2 billion, or €101,962 per capita. This was mainly due to the fall in house values.