House prices versus income by country
Every economy Bullrun holds a reading for: 21 in all, ranked highest first. Australia is the highest at +54.12% and South Korea the lowest at -52.76%; the median is +20.78%. Each row carries its own period and source, because these providers publish on different calendars - two rows in this table can be more than a year apart.
- Economies covered21
- Highest+54.12% Australia
- Lowest-52.76% South Korea
- Median+20.78%
House prices versus income by country, ranked
| # | Economy | Price-to-income vs norm | Band | Period | Source |
|---|---|---|---|---|---|
| 1 | Australia | +54.12% | Very stretched | 2026-Q1 | OECD |
| 2 | Portugal | +44.71% | Very stretched | 2026-Q2 | OECD |
| 3 | Canada | +38.36% | Very stretched | 2026-Q3 | OECD |
| 4 | Spain | +28.91% | Stretched | 2026-Q2 | OECD |
| 5 | Denmark | +27.40% | Stretched | 2026-Q2 | OECD |
| 6 | Switzerland | +24.91% | Stretched | 2026-Q2 | OECD |
| 7 | New Zealand | +23.47% | Stretched | 2026-Q1 | OECD |
| 8 | Austria | +23.29% | Stretched | 2026-Q2 | OECD |
| 9 | Belgium | +21.47% | Stretched | 2026-Q2 | OECD |
| 10 | Norway | +21.19% | Stretched | 2026-Q2 | OECD |
| 11 | Sweden | +20.78% | Stretched | 2026-Q2 | OECD |
| 12 | United Kingdom | +15.28% | Stretched | 2026-Q2 | OECD |
| 13 | Ireland | +10.87% | Stretched | 2026-Q2 | OECD |
| 14 | United States | +9.75% | Near norm | 2026-Q2 | OECD |
| 15 | Euro Area | +9.48% | Near norm | 2026-Q2 | OECD |
| 16 | Greece | +8.42% | Near norm | 2026-Q2 | OECD |
| 17 | France | +4.93% | Near norm | 2026-Q2 | OECD |
| 18 | Italy | -11.02% | Below norm | 2026-Q2 | OECD |
| 19 | Germany | -15.33% | Below norm | 2026-Q2 | OECD |
| 20 | Finland | -24.29% | Far below norm | 2026-Q2 | OECD |
| 21 | South Korea | -52.76% | Far below norm | 2026-Q2 | OECD |
How the scale reads
| Band | What it means | Economies |
|---|---|---|
| < -20% | Far below norm - far below this country's own long-run average | 2 |
| -20 to -5% | Below norm | 2 |
| -5 to +10% | Near norm | 4 |
| +10 to +30% | Stretched | 10 |
| > +30% | Very stretched | 3 |
These are the same bands that shade the map on the Global Markets dashboard, so a country's colour there and its band here always agree.
What this measures
How far the price-to-income ratio sits above or below that economy's OWN long-run average, in percent. Scored against its own history on purpose: a raw ratio is not comparable between countries, because what counts as normal depends on mortgage structure, tax treatment and how income is measured. Zero is that country's own normal, not an international benchmark. The OECD standardises this for 21 economies, so the panel is narrower than the growth view rather than filled in from a proxy.
Source: OECD analytical house price indicators. Coverage differs from metric to metric because these providers cover different sets of economies, and a gap is left as a gap rather than filled from a proxy - an absent economy is one we hold no reading for, never a zero. See the data license.
Other metrics by country
Global markets dashboard · Every economy scored · Screen stocks by country