House prices in Norway rose nominally by 0.8 percent in August 2018. Adjusted for seasonal variations, prices fell by 0.1 percent.
House prices are now 2.2 percent higher than a year ago.
It shows house price statistics for August. The figures were submitted Wednesday morning by Eiendom Norge. Statistics on the house price are given by Property Norway in collaboration with Property Value and Finn.no.
The figures are weaker than the analysts expected, in a residential month that is the strongest of the year.
Managing Director of Real Estate Norway, Christian Vammervold Dreyer, is nevertheless surprised:
– The price development for the country as a whole is weaker than what was normal in August during the past ten years. The high transaction volume combined with a wide range of used properties in large parts of the country, however, reflects a healthy market in good balance, says Dreyer.
Kristiansand had the strongest price development in August with an increase of 2.4 percent. The biggest drop was Bergen with a decrease of 0.9 percent. There was also a fall in house prices in Oslo.
Fredrikstad / Sarpsborg has the strongest 12-month growth with an increase of 5.2 percent, while Bergen has the weakest 12-month growth with a decline of 0.5 percent.
See how prices continue in the largest cities of the country down the road.
More sold houses
In August 9453 houses were sold in Norway. It is 8.4 percent more than in the corresponding month in 2017.
"At the end of August it has never sold as many houses as this year", says Dreyer.
There were 12,754 homes for sale, which is 7.7 percent more compared to August last year.
Regional differences
| Price change last month | Price change last year | Price change last five years | |
|---|---|---|---|
| Oslo | – 0.6% | 3.4% | 45.7% |
| mountains | -0.9% | -0.5% | 14.6% |
| Trondheim | 1.8% | -0.1% | 16.4% |
| Stavanger with environment | 2.2% | 0.6% | -9.9% |
| Tromso | 2.1% | 1.6% | 30.9% |
| Kristiansand | 2.4% | 2.2% | 7.7% |
| national | 0.8% | 2.2% | 27.1% |
Oslo
Price reduction of -0.6 percent:
"Due to the strong recovery in July, it was no surprise that there was a price drop now, many new homes have appeared on the market, and it is moderating price developments in the capital, says Dreyer.
mountains
Price decrease of -0.9 percent:
"There is a clear moderation of the price developments in Bergen, which has been almost flat in the past four months and we expect a fall in prices throughout the year," says Dreyer.
Trondheim
Price growth of 1.8 percent:
"We expect nominal development to decline in the months due to the high supply side, and we need to return to 2008 to find so many homes on the market," says Dreyer.
Stavanger
Price growth of 2.2 percent:
– Here we correct a very weak month in July. It is a stable high-offer page and it has given a very moderate price development in prices. We think this will continue in the coming months and maybe we will see a fall in prices, "says Dreyer.
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