Conall MacCoille

You know, it shows that the kind of high single digit rates of inflation we've seen over the past two years are finally starting to moderate.

Housing is clearly very expensive.

So, look, it's not the solution to the issue, but at least...

we're now beginning to see house price increases more in line with wage growth, which is running around 5%.

So I often hear people say, you know, our house price is going to fall back.

I suppose people are, their memories are kind of coloured a little bit by the global financial crisis and what happened here in 2007, 2008.

But actually house prices very rarely fall in nominal terms.

What we do see is a period of time where hopefully prices increase at a slower pace than wages.

And that means a sort of a gradual improvement in affordability.

So when we look at affordability,

It's clearly deteriorated over the past two years.

Now we're seeing house prices increase closer in line with wage growth.

So that deterioration in affordability is levelling off.

That's the average house pricing.

On average, it's eight times.

The average salary is €53,000 on an annualised basis.

That includes part-time workers.

So that multiple would be slightly lower for a full-time salary.

It's the most stretched that ratio has been since 2009.

We do.