New Norway Housing: Flat February

housing prices up 0.2 percentHousing.Photo: pixabay.com

After 8 years of steady growth, new housing figures reveal that Feb.2018 saw new home sales performing at the same level as 2017;producing a total of almost 30k new home sales within the 12 month period.

 

Per Jæger, CEO Housing Manufacturers’ Association reported latest indicators, saying ‘We see reductions. Housing sales declined for 10 consecutive months. Lackluster January, 2018 fell 17% compared to January, 2017’s totals.’

30,430 total home construction starts were tallied within the 12 month period. However, the first 60 days of 2018 saw registered start-ups at 8% lower overall than the first 60 days reported within 2017.

SILVER LINING
Norway’s housing market has enjoyed 8 years of uninterrupted growth and these newest negative factors reflect stricter mortgage rules begun January, 2017.

Summary data indicate a silver lining: the house pricing index rose by.73% during 2017, and adjusted for inflation, housing prices fell almost a percentage point (.6%) in 2017.

In 2017:
* Bergin house price index fell 2.07%
* Trondheim house prices fell 1.39%
* Stavanger house prices rose by 3.75%

Statistics Norway tallies average price of detached houses ending in 2017 @ NOK 24,550 per sq.m.. Row home average price @ NOK 32,796 per sq. m.. Apartments @ NOK 52,755 per sq. m..

 

© NTB Scanpix / #Norway Today

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