With the discussion on rent growth vs house price growth etc, what would be the equlibrium house price growth rate if rent growth is 4%?

Would it be a linear relationship with other things being equal?

Rents rise by about 4pc a year
A Massey University survey of rents shows median house rents nationally up 3.8 per cent to $270 a week in the 12 months to November. The rise was slightly higher than general inflation of 3.5 per cent.