ESRI: Negative equity ‘could be over’ by 2017

The number of households in negative equity is falling rapidly and could fall to zero as early as late 2017, such is the unexpected pace in house price rises, says the country’s leading think-tank.

The Economic and Social Research Institute says the number of households in negative equity following the property crash stood at 160,000 at the end of last year.

That number will likely fall to 100,000 by the end of this year, and fall rapidly again, if home prices continue to rise at their annual rate of 9%, David Duffy, the senior housing expert at the ESRI said.