The European Central Bank (ECB) has just published the results of the first wave of the Eurosystem Household Finance and Consumption Survey (HFCS), a joint Eurosystem project carried out with the support of national statistical institutes of three euro area countries. The reference year for most country surveys is 2010.
The HFCS provides detailed household-level data on various aspects of household balance sheets and related economic and demographic variables, including income, voluntary pensions, employment and measures of consumption.
Key results of the survey are:
-60.1% of households in the euro area own their main residence – 40.7% outright and 19.4% with a mortgage. The median value of the main residence for the owners is €180,300.
-23.1% of households own other real estate property; the median value of other real estate property is €103,400.
-11.1% own a business in which at least one member of the household is employed; the median value of self-employment businesses is €30,000.
-75.7% own vehicles; the median value of vehicles is €7,000.
-96.4% of households own deposits (sight or saving accounts), while voluntary private pensions/whole life insurance is held by 33.0% of households; all other financial assets are owned by less than 15% of households.
-Ownership of financial assets other than deposits depends strongly on income; in the highest income quintile, 26.5% of households hold mutual funds, while 24.4% hold publicly traded shares.
-43.7% of households in the euro area have (some type of) debt; 23.1% have mortgage debt, while 29.3% have non-mortgage debt. Among households that have debt, the median value of mortgage debt (€68,400) substantially exceeds the median value of non-mortgage debt (€5,000).
Access the survey results here.