Dutch household assets shrank by 12% in 2010 to an average €29,000 at the beginning of 2011, the national statistics office CBS said on Monday.

The main cause of the drop is the fall in house prices. The average price of a home in the Netherlands fell from €237,000 to €233,000 over the year while the average mortgage debt rose by €4,000 to €160,000.
Household wealth has been falling since 2007, when the average assets per family were €47,000. The number of millionaires fell by 12,000 to 151,000 in 2010, the CBS said.