Average House Is Costing Eight...

News & Sport

Average House Is Costing Eight Times A Person's Annual Income


04:58 3 Jan 2023

Share this article

The research was carried out by 

The growth in house prices is starting to slow, with an increase of 6 per cent seen in the final three months of 2022.

But a new report suggests there won't be a total collapse as property prices start to come down.

The report found the average residential purchase price is now running at nearly eight times the average annual wage.

The average home sale in the third quarter of 2022 was €370,000, which is 7.7 times the average income of €48,000. say this is the highest multiple since 2009.

The report's authors have explained that the Central Bank's decision to ease mortgage lending rules could have resulted in the discrepancy.

Share this article

Read more about

Buying House Property