DNB analyst: The rise of house prices in Norway will probably slow down as summer approaches

OsloPhoto: Berit Roald / NTB
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House prices continued to rise in March, but DNB analyst Kristine Aunvåg Matsen believes that the growth will slow down towards the summer.

“First, there are strong indications that the supply of housing will increase in April. Second, Norges Bank signaled after the interest rate meeting in March that they will start raising interest rates in the second half of 2021, which could affect housing demand,” Matsen wrote in DNB’s morning report on Friday.

“Together with the reopening of society and the economy, interest rate hikes can help reverse the underlying factors that have built up the housing market in recent months,” she wrote.

While house prices rose 1.2% in March on a national basis, they fell by 0.8% in Oslo. Matsen believes this can be an important indicator to monitor for future house price developments.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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