Demographia Annual Housing Affordability survey release

on_my_oe

The latest Demographia survey, released today, compares prices with incomes in 378 cities, including 86 with more than one million people.

http://www.demographia.com/dhi.pdf

3.4 Ireland

Ireland had a seriously unaffordable major market Median Multiple of 4.3 in 2014 and a seriously unaffordable Median Multiple of 4.4 overall.

Major Market: Dublin, Ireland's only major metropolitan market experienced a substantial deterioration in its housing affordability from a moderately unaffordable 3.7 in 2013 to a seriously unaffordable 4.4 in 2014.
Dublin's Median Multiple is climbing strongly (from a low of 3.3). Dublin's affordability loss could indicate a trend toward "Housing Bubble II", which University College, Dublin Economist Colm McCarthy suggested could occur if its urban containment land use policies are not liberalized.

All Markets: All Markets: Overall, Ireland was the most affordable geography in the Survey, with an affordable Median Multiple of 3.0, a worsening from 2013, when the Median Multiple was 2.8.16 With the exception of Cork (3.2), all of the other markets were rated affordable, with Median Multiples of 3.0 or less (Galway, Limerick and Waterford).

Not as expensive as other main cities such as London, New York etc but still worrying enough

pwurple

Interesting to see a survey that also lists Cork as unaffordable for a change, instead of listing Dublin and Not Dublin.