... 79, 111 90 ,403 5.7 21,010 130 19, 818 294 1 .96 3Q04 0.07 79, 168 90 ,4 59 4.8 21,128 118 20,111 293 1 .95 4Q04 1.17 80, 091 90 ,477 4.0 21,212 83 20,3 59 247 1.471Q05 2.02 81,705 90 ,563 3.6 21,302 90 ... 0. 59 2Q06 2. 89 92,873 90 , 496 1.4 21,620 90 21,314 1 69 0.643Q06 2.84 95 ,510 90 , 396 1.2 21,741 122 21,484 170 0.654Q06 2.64 98 ,027 90 ,481 1.121, 897 155 21,650 167 0.621Q07 2.23 100,2 09 90,485 ... Methodology Brooks and Tsolacos ( 199 9) employ a reduced-form VAR, and hence eachequation can be estimated separately using OLS. We noted earlier that,340 Real Estate Modelling and Forecasting 11.3...