Description
The Demographia International Housing Affordability Survey covers 293 metropolitan housing markets in nine countries. This index rates middle-income housing affordability using the "Median Multiple" which is the median house price divided by the median household income. This index rates “affordable” as 3.0 and under, up to a “severely unaffordable” measure of 5.0.
Importance
Price to income indicators of affordability measure the ratio of average house prices to average income, and can be used to summarise the regional disparities in housing cost affordability in Ireland.