Effect of the Bank Home Loans of Property Prices
This is a big question. I will just comment on one aspect.


  Are the prices rising so high as a result of increasing amount of
  affordable loans or vice versa, the demand for property has driven the
  supply of cheap loans?


We know that people can pay for a house in a few ways:


Use proceeds of the house that they are selling.
Use savings from wages and salary.
Sell other assets (e.g., equities) and use proceeds.
Get a mortgage.


Unless the other sources of cash (1-3) rise enough to cover higher house prices, mortgage lending has to rise. One can try to do a lot of statistical analysis, but the usual relationship is that mortgage borrowing rises at the same time as house prices going up.

Returning to the part of the question I highlighted above, one could argue either way. 

One argument is that house prices rose (for some reason), and so mortgage borrowing has to rise in response. In this view, the amount of mortgage loans is not a driver of anything, it is just a mechanical response to higher house prices.

Going the other way is possible. However, we need to remember that mortgages are inanimate objects - in what sense can they drive behaviour? It is safer to say that some humans have changed their behaviour, and the rising loans is a consequence of that behavioural change. The driver is the behaviour change (a possibility not covered in the question.)

The likely suspect is that the behaviour of bankers has changed. Their "effective lending standards" have changed for any number of reasons, and so households can borrow more. (One possible factor is lower interest rates; although formal lending standards may not have changed, the same household can qualify to borrow more under the existing standard.) This extra mortgage borrowing capacity allows households to bid up the price of houses.

I do not think I have fully answered the question, but this discussion may help you rethink how to pose the question.  This website has a difficult time with extremely broad questions, so you may get more responses if you ask a few very specific questions.