The affordability index
Published 03/02/2011 | 05:00
Houses in Ireland are still expensive compared with other countries, according to an international study.
The latest Demographia International Housing Affordability Survey for the third quarter of 2010 ranked Dublin as "seriously unaffordable".
The Demographia survey examines the median house price divided by gross annual median household income.
Anything below 3.0 indicates affordability, between 3.0 and 4.0 indicates moderate unaffordability, and between 4.0 and 5.0 indicates serious unaffordability and above 5.0 severely unaffordable.
Dublin was at 4.8, that is the average house price divided by the annual gross salary was 4.8.
The US came in at 3.3, Britain was at 5.0 and Canada got a score of 4.6.