DNB believes house prices in Norway increased in July

Photo: Beate Oma Dahle / NTB

Housing prices leveled off earlier this year. On Wednesday, house prices for July will be presented, and DNB expects an increase of 0.5%, somewhat higher than normal for July.

“We expect that second-hand housing prices have increased by 0.5% from June to July, adjusted for seasonal variations,” macroeconomist Kjersti Haugland in DNB stated.

DNB Eiendom says that the actual number of sales in July is well below the same month last year. It has nevertheless been a good month, with DNB registering a slight rise in prices in Oslo, as well as a clear rise in Bergen.

On Monday, Obos came out with figures showing that the prices of used Obos homes rose by 2.3% in July.

Norges Bank has announced that interest rates will be raised in September. This will help to dampen the sharp rise in prices seen over the past year, according to Terje Buraas, head of DNB Eiendom.

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

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