House prices up 1.7 per cent

Norway TodayPicture from Bærum city.Photo Norway Today Media

House prices increased by 1.7 per cent from the 4th quarter of 2015 to the 1st quarter of 2016, when adjusted for seasonal variations. Prices of detached houses and flats in blocks had the highest growth.

Compared to the last quarter of 2015 the prices of detached houses and flats in blocks have increased by 1.8 and 1.7 per cent respectively. Small houses had a growth of 1.4 per cent.

The house prices in the regions Western Norway excluding Bergen and Northern Norway had the highest growth in the last quarter, by 3.8 and 3.3 per cent respectively. Stavanger had the largest decrease of house prices by 3.1 per cent.

Strongest price development in Oslo last year, weakest in Stavanger

House prices in Oslo and Bærum increased on average by 9.4 per cent from the 1st quarter of 2015 to the 1st quarter of 2016. In this region the prices of flats in blocks and detached houses increased by 10.2 and 9.1 per cent respectively, while small houses increased by 7.9 per cent.

Stavanger and the rest of Agder and Rogaland were the only regions with a price decrease since the 1st quarter of 2015. Here the house prices fell by 10.2 and 1.9 per cent respectively. In Stavanger the decrease was around 10 per cent for all dwelling types.

A total of 18 019 house sales were used in the index calculations for the 1st quarter of 2016.


Source: SSB / Norway Today