Low population growth in Oslo could force housing developers to retreat

The population of Oslo increased by only 241 people in the previous quarter. Economists believe the low numbers will force housing developers to change rates.

‘People have differing opinions over whether Oslo is the city everyone moves to. The figures show that net migration to Oslo from other regions has been relatively scant for many years,’ said Marius Gonsholt Hov, the senior economist at Handelsbanken to Dagens Næringsliv newspaper.

Statistics Norway (SSB) reported this week that migration away from Oslo was so high that population in the capital increased only by a modest 241 people during the past quarter year.

In total, 8,910 people moved to Oslo in the second quarter, while 10,303 moved away from the city. The birth of 1,634 infants added an addition to the capital’s final figures. Population growth was 2,060 people in Oslo during the first quarter of 2017.

Population statistics expert, Laila Holmen Lystad, at Statistics Norway, said the numbers could be a coincidence.

‘We must follow this further to see if it’s a new trend. Oslo has experienced high levels of relocation to neighbourhoods such as the municipalities of Akershus, Østfold, and Vestfold, said Lystad.
As of Thursday morning, there are approximately 4,000 homes for sale in Oslo on Finn.no.

At the same time, the capital is at the the top of the charts for building new residences. In the second quarter, a start-up permit was granted for the construction of 2,057 new homes in Oslo, according to SSB. Housing prices today are 7% lower than they were in April.

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