Significant decline in sales of new homes

new homesNew homes.Photo:

So far this year, sales of new homes are 18% lower than they were last year. In August, sales were 33% lower than in the same month last year.


The figures appear in the monthly statistics of the Housing Manufacturers Association.

‘We are looking with some concern at the decline in apartment sales. We believe it’s linked to the tightening of mortgage regulations.

It’s time to evaluate this and look at possible facilitation of financing for the purchase of new homes. Today, we’ve  called for a meeting with the Finance Minister, Siv Jensen, to discuss this,’ said Peder Jæger, CEO of the Housing Manufacturers’ Association.

Flat and apartment sales fell the most, with a decrease of 31% so far this year. The sale of detached houses is down 10% from last year, while 15% more semi-detached houses were sold this year than last year during the same period, reported the association.

During the past twelve months, the building of 32,658 homes has been started. So far this year, building of 8% more homes has begun than during the same period last year.

© NTB Scanpix / Norway Today