I agree with you, but I don't think they're absolute fundamental drivers. Low interest rates will drive prices up, but not to the point we have now where nice-

I agree with you, but I don't think they're absolute fundamental drivers. Low interest rates will drive prices up, but not to the point we have now where nice-sized family houses are divided into multiple small residences and it's still not enough. I haven't tried it, but I suspect if you game-theoried it out with a stable population and low interest rates there would be up-bidding, but everyone would still end up with a house. With a relatively stable population you don't particularly need many new houses to be built (and not by councils in particular).