House prices: – Never by the end of August there are as many houses sold as this year



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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Longer sales time

On average, it took 40 days to sell a house in August this year. It is seven days less than the same month in 2017, with the numbers.

The fastest sales time was Oslo and Drammen with 27 days, the slowest sales time was 96 days in Stavanger.

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– Oslo is on the way to the landing

The month of August reflects the normal conditions on the housing market in the largest part of the country, according to real estate agents in Norway.

"There is a good balance between supply and demand in most places, while many buyers are more selective and take better time than on more heated markets." A good selection of new and used homes offers consumers the opportunity to choose more and make better decisions. take, says CEO Carl O. Geving.

He thinks it is good to see that the market development is normalized after a spring with relatively strong growth in different regions & # 39; s.

"This is especially true for Oslo, which now seems to be landing after a slight strong growth in the first half, a sign of health if we get a somewhat weaker price development in the autumn and, if so, contribute to More sustainable price development over time.

Price increase on OBOS apartments

Earlier this week OBOS announced an increase in inflation of 1.5 percent in Oslo in August.

In August, the average square meter price for OBOS-related homes in the Oslo area was NO 62,644. This is 2.2 percent more than in August 2017.

For the country as a whole, the average square meter price for used OBOS-associated homes was NOK in August. This is 1.1 percent higher than last August.

The prices for OBOS-related homes have so far increased by 10.7 percent.

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