House prices now at affordable levels
Are you hoping to get on the property ladder this year? If the answer is yes, then here’s some good news. House prices have fallen so much they are now at an affordable level for thousands of people who take in average salaries.
The Irish Independent reports on a global survey which looked at house prices in 325 cities in English-speaking countries around the world.
In terms of Ireland, the survey found that it now takes the equivalent of three times the average salary to buy a house here. That is in stark comparison to the previous figure of ten times the average salary of €36,000 during the boom years.
The lower prices means that homes are now finally within the reach of teachers, nurses and office workers for the first time in years.