Irish Household Wealth Doubles in a Decade: Davys Report

Dublin: Irish households have seen a significant rise in wealth over the past decade, according to new research from stockbrokers Davys. The report shows that total household wealth has grown from €573 billion in 2014 to €1.32 trillion in 2024, marking a dramatic increase. Projections suggest this figure could double again to €2.6 trillion by 2035.

Ireland currently has 1.9 million households, of which 75,000 fall into the high-wealth category, the report notes. However, it also highlights that many families continue to struggle with essential financial foundations such as adequate housing, emergency savings, and sufficient pension planning.

The analysis describes the growth as a strong post-crisis recovery following the global financial downturn. Yet, it stresses that the expansion in wealth is largely fuelled by rising private home values, rather than diversified or easily tradable assets. Non-property wealth, while stable, still trails behind the broader performance of the domestic economy.

The report further states that Irish households are saving at levels comparable to their eurozone counterparts and accumulating healthy net savings. Still, financial resources are not being managed or invested optimally, often due to limited financial planning, underinvestment, and risk aversion.

A key concern outlined is pension preparedness. The report warns that pension funds are not being used effectively, predicting a €250 billion pension deficit for private-sector workers by 2024.

“This wealth trajectory is a powerful indication of the resilience and resourcefulness of Irish society in the years following the global financial crisis,” said Gavin Kelly, Chief Executive of Davys.

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