House prices up 1 percent last month

Houses in Jessheim, GystadHouses in Jessheim, Gystad.Photo: Norway Today Media

House prices rose by 1 percent from June to July, according to seasonally adjusted figures from Property Norway. Over the past year, prices have risen by 8.8 percent.

In July 3642 existing homes sold, a decrease of 11 percent compared with July 2015. By the end of July, 10328 homes were for sale, which is 8.9 percent fewer than a year ago.

The strongest price growth was in Oslo and Trondheim respectively at 1.8 and 1 percent.

The decline in the number of homes sold in July is also lower than previous years.

– The decline is greatest in eastern Norway and Trondheim, where fewer homes sold than normal for July. So far this year 5.8 percent fewer homes sold than the same period in 2015, but sales volume this year is higher than previous years, says CEO Christian Dreyer Vammervold of Real Estate Norway.

At the end of July, the supply of homes on the Eastern and the Northern regions were significantly lower than the same time last year. Rogaland shows a supply-side that’s adjusting itself to normal. In most other parts of the country supply of housing is normal for the season.


Source: NTB scanpix / Norway Today