Mortgage arrears are falling - but 82,000 remain in the red

Ireland is still dealing with legacy issues from the property crash...

The number of Irish mortgages on principal dwellings in arrears has fallen again for the 12th quarter in a row.

According to new figures from the Central Bank, 82,092 accounts remained in arrears at the end of June.

That is a 4.5% decline on the number recorded in March, and it accounts for 11% of all mortgage's on principal homes in Ireland.

At the end of the period, there was a total of 743,700 private residential mortgage accounts for principal dwellings in the country - they had a total value of €100.9bn.

Of the six main lenders in the Irish market, the value of accounts in longer-term arrears of over 360 days amounted to €9.5bn.

Irish banks were still carrying non-performing loans (NPLs) worth more than €50bn at the end of 2015 according to the European Central Bank's (ECB) figures which were released yesterday.

This represents 20% of all bank loans in Ireland - that's well above the average of 7% across the euro zone.