45,000 mortgage holders out of negative equity

The rebound in the Dublin property market has been the main driver which has helped to lift 45,000 mortgage holders out of negative equity by the end of last year.

By December this year, between 68,000 and 88,000 people can also expect to return to a positive, personal balance sheet.

This is according to research from the ESRI. It said the phenomenon, where properties were worth less than the mortgage that were linked to them, peaked in 2012.