In spite of a growing recognition of the importance of supply conditions for the level and volatility of house prices …, empirical work on housing supply outside the US is scarce. This paper considers various measures of housing supply in the …

I estimate the impact of new housing supply on the local rent distribution, exploiting delays in housing completions … caused by weather shocks during the construction phase. Increasing the flow of new supply by 1 percent lowers average rents … supply shock is similarly strong in locations experiencing growing housing demand. Moreover, it affects the entire rent …