Home prices in Norway rose by 2% in February

OsloPhoto: Håkon Mosvold Larsen / NTB

Home prices rose by 2% in February. With February included, home prices in Norway have risen by 9.7% in the last twelve months.

The increase was strongest in Oslo, Bodø with Fauske, and Stavanger and the surrounding area.

The upturn is among the strongest when it comes to February for the housing market. It was stronger only in February of 2009 when the market recovered from the financial crisis.

“We expect continued growth in house prices in the future and many sales. As the situation is now, only higher interest rates can dampen the sharp rise in prices in the housing market,” Henning Lauridsen, CEO of Eiendom Norge, noted.

The turnover period for the sale of a home fell from 60 days in January to 52 days in February. In Oslo, it took only 18 days on average to sell a home.

Oslo had a seasonally adjusted increase of 2.4% – thus, it had the strongest price growth in the country. In the last 12 months, there has been an increase in home prices of 15.2% in the capital.

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

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