Ratings for Major Urban Markets
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(Data for 3rd Quarter 2007)
So is the grass greener or not? Has the average house price been grossly affected by outliers or not? Dont have time to check now but someone check their methodology - does the income multiple include dual incomes or single incomes?
Just look at their median household income for EVERYONE in Ireland(2 incomes obviously), the magic figure which cannot be obtained here in good ole Ireland, it’s like a state secret! (not the avg industrial wage thing!)
On page 40, they say its:
Cork - 57.9k
Dublin city/county - 64.8k
Dublin exurbs - 55.2k
Galway - 56.6
Limerick - 59.7
Waterford - 55.2
So from the above, the national median wage seems to be around 27.5k outside Dublin to 32.4k for Dublin city/county so could be half way between that, ballpark 30k?
Are you reading this VI’s, you honestly expect people to afford overpriced houses on the above, so called high income economy there ha!
The median is less than the average which is more like 35k .
The median kinda tells us what 50% of the population earn , max.
It does not tell us what the other 50% earns except that its more .
This median is lower in Limerick because Limerick has the highest divorce rate and nobody under 25 bothers their holes working .
Thast why they have cheaper houses but these cheaper houses are still less affordable than they are in places where the lazy young bollixes are sent out to work and where himself and herself share a house…and at least one of them works .
We’re closer than ever to getting that magic figure by baby steps , pity they didn’t state ‘national median wage’ so we know what it is for the workforce rather than that bloody ‘national median household income’ which they don’t explain how they reached it other than using data from national institutions lark on page 45!
I was reading in the Sunday Times today that one 5million 2020 population forecast included a fall in Limerick’s population to 54k whereas Swords was forecast to increase to 56k. I suppose its not really ridiculous if your clearing out O’Malley Park, Southill etc and if Dell upsticks to Polska.
But not every household has two incomes gurramok, so you can’t just divide by 2. Now if you were inclined, I’m sure the census could tell us how many homes are single and dual income, and from that you could extrapolate the median wage.