## Figure 2.4. Determinants of Real House Prices

## Source details

**Canonical URL:** [Figure 2.4. Determinants of Real House Prices](https://www.imf.org/-/media/files/publications/gfsr/2019/april/english/ch2data/csv/figure24.csv)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2019/april/english/ch2data/csv/figure24.csv.md)
- [Structured JSON version](/-/media/files/publications/gfsr/2019/april/english/ch2data/csv/figure24.csv.json)

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### Dataset structure and variables
- Worksheet name: csv
- Row count: 3245
- Column count: 14
- Four main determinant panels (each paired with "House price growth (t+4)"):
  - Panel 1: "FCI purged (t)" and "House price growth (t+4)"
  - Panel 2: "GDP growth (t)" and "House price growth (t+4)"
  - Panel 3: "Credit-to-GDP ratio (t)" and "House price growth (t+4)"
  - Panel 4: "Price-to-GDP per capita ratio (t)" and "House price growth (t+4)"

### Sample observations (exact numeric values preserved)
- Panel 1 — FCI purged (t) and House price growth (t+4):
  - 0.012178771, -0.525879085
  - 0.29487747, -0.437175453
  - 0.642226636, -0.035499752
  - 0.754846156, 0.018096745
  - 0.323572874, -0.04420203
  - 0.131454006, 0.135029137
  - 0.290982962, 0.110007107
- Panel 2 — GDP growth (t) and House price growth (t+4):
  - 0.362253189, -0.525879085
  - 0.066494942, -0.437175453
  - -0.914549828, -0.035499752
  - -0.468921661, 0.018096745
  - 0.776672363, -0.04420203
  - 0.504040718, 0.135029137
  - 0.347876549, 0.110007107
- Panel 3 — Credit-to-GDP ratio (t) and House price growth (t+4):
  - 0.877707899, -0.525879085
  - 1.030727386, -0.437175453
  - 1.38266778, -0.035499752
  - 1.132071018, 0.018096745
  - 1.876614809, -0.04420203
  - 1.313269615, 0.135029137
  - 1.137832761, 0.110007107
- Panel 4 — Price-to-GDP per capita ratio (t) and House price growth (t+4):
  - 0.025957318, -0.525879085
  - 0.019641235, -0.437175453
  - 0.017616687, -0.035499752
  - 0.028972192, 0.018096745
  - 0.019465115, -0.04420203
  - 0.01282669, 0.135029137
  - 0.014654987, 0.110007107

### Usage notes and content focus
- The dataset pairs contemporaneous determinants (t) with "House price growth (t+4)" for each observation.
- Numeric precision and sign are preserved exactly as in the dataset (no rounding or aggregation).
- The worksheet contains a large number of rows (rowCount: 3245); the sampleRows above illustrate the column layout and the numeric formatting used throughout.

*Source: figure24.csv (worksheet: csv)*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2019/april/english/ch2data/csv/figure24.csv_