Irish personal debt falls to €37,572 per capita, lowest level since 2006

Irish people owe €37,572 per capita — the lowest level of personal debt since October 2006, according to the Central Bank.

Household debt now stands at €172.3bn, which is €31.5bn less than the peak of €203.8bn in the last three months of 2008.

Households paid down €1.6bn of debt over the first three months of this year. Household debt as a proportion of disposable income only changed by 0.1% however to 197.3% because incomes also fell.