The sharp fall in the sale of new housing is causing fear of the consequences for employment, and other areas of the Norwegian economy.
According to new statistics from the Housing Producers’ Association, the number of new homes sold so far this year is 20% lower than during the same period last year.
‘We are worried about the decline in housing sales, and the effects this will have on the Norwegian economy.
Lower sales will quickly lead to the construction of fewer new homes, and employment in construction companies, and among their suppliers will fall dramatically. This is a major industry, that is important for the Norwegian economy’, said CEO, Per Jæger, of the association.
He expects to see an effect on employment within six to twelve months if the fall in new house sales continues.
Sales of new apartments have fallen mostly so far this year, with a decrease of 35% over last year. The sale of detached houses has fallen by 11%, while the sale of semi-detached homes has increased by 18%.
© NTB Scanpix / Norway Today