Richest 10 per cent of households have nearly half of Ireland's wealth, Central Bank says

The richest 10 per cent of households own nearly half of the country's wealth, according to the Central Bank.

There was an 11 per cent increase in household wealth here last year, growing to a staggering total of €1.3 billion.

The rise was driven by surging house prices, as property accounts for more than two-thirds of total net wealth.

Susanne Rogers from Social Justice Ireland said this could widen the wealth gap.

Speaking on Newstalk, she said: "Overall, the net wealth of households has doubled in the last 10 years.

"Some of it is in cash and bank deposits is about 37 per cent, which is higher than the EU average, but the bones of this is property and we can see that.

"I think how difficult property is to access is going to see a wealth gap."