House prices in 40 countries were assessed using a new method that combines national accounts and census data. The average price per square meter was calculated to provide more accurate price estimates. For countries without this data, property advertisements were used with a correction factor to improve accuracy. The study found that a price to income ratio close to 10 can signal potentially overvalued house prices. By using these price level estimates in models, researchers were able to better predict house price adjustments and gain more insights compared to traditional methods based on indexes.