It (Frankfurt: A0MLX5 - news) shows that the value of Ireland's private housing stock was an estimated andeuro;511 billion last year, with housing equity at andeuro;395m.
The value of the Irish housing stock has increased by 366%, or andeuro;401 billion, over the last ten years but decreased by andeuro;21 billion in 2007 as a result of a slowdown in the housing market.
Responding to the figures, Gabriel Bannigan, head of retail andamp; intermediary banking at Halifax, said: Despite the recent slowdown in the housing market, Ireland's household balance sheet is in good shape. Irish households have a combined E388 billion of equity in their homes. This equity has more than doubled since 1999, despite a modest fall last year.
The Review said that Irish housing equity was andeuro;388bn in 2007 with total outstanding mortgage debt of andeuro;123 billion. That is equivalent to 24% of the value of Irish housing assets.
Housing equity has increased by 143%, or andeuro;228 billion, since 1999 - the earliest year data is available - when it totalled andeuro;160 billion. The value of Irish housing assets has increased by andeuro;327 billion since 1999 versus a andeuro;99 billion increase in mortgage balances, Halifax said.
The rate of inflation has risen by 43% over the past decade compared to a 366% increase in the value of the housing stock.

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