Gerlach-Kristen, Petra; McInerney, Niall - 2014
factors in each market. We focus on the pre-2004 period during which house prices and mortgage credit exhibited a stable … mainly a function of deposits. We show that the demand for housing is predominantly driven by house prices, mortgage credit …-growth scenario sees house prices rising by 50 percent over the next decade with an annual increase in the housing stock of 18 …