House Price to Income Ratio: Insights & Trends

Ans: The House Price to Income Ratio is calculated by dividing the average property price by the median annual income of a family or household.

Ans: A high House Price to Income Ratio suggests that housing in the market is relatively expensive, making it easier for families to afford homes if they allocate a significant portion of their income. It helps the families to plan the budget effectively and allocate the funds necessary for buying a house.