Total household debt down €470m last year

Total household debt in Ireland fell by almost €470m in August, according to the latest monthly statistics from the Central Bank.

The bank says the total amount of money owed on residential mortgages fell by a further €84m during the month, the fifth consecutive monthly decline.

Overall mortgage debt has now fallen by €132m so far this year, compared to a €7bn increase during the same period last year.

The Central Bank says the total amount of money owed by private households and businesses has fallen by 3% over the past year, but the vast majority of the fall can be traced to loan write-downs and increased provisions for bad debts.


More in this Section

Spring forward: Don't forget clocks go forward tonightSpring forward: Don't forget clocks go forward tonight

People urged to shop responsibly as supermarkets experience long queuesPeople urged to shop responsibly as supermarkets experience long queues

High-profile solicitor in critical condition as he battles Covid-19High-profile solicitor in critical condition as he battles Covid-19

Covid-19: Government provides list of essential workersCovid-19: Government provides list of essential workers


Lifestyle

'That ladder you’ve got out is it safe; do you know what you’re doing?'Ireland's DIYers causing problems for doctors during covid19 crisis

As one of the tens of thousands of people who took full advantage of recent fine weather to walk in the outdoors, it was clear to be seen that the vast majority of people were observing the physical distance advice.Donal Hickey: Stick to lowland walkways

For Tory islanders however, being cut off is a way of life.Islands of Ireland: Isolation a way of life on Tory

Louisa Earls is a manager at Books Upstairs, D’Olier St, Dublin.We Sell Books: Virus response writes a new chapter for Books Upstairs

More From The Irish Examiner