OBOS’ prices fall for the second consecutive month
For the second consecutive month, the prices of second-hand OBOS apartments in Oslo have fallen, but so far this year prices overall have risen by 8%.
In October, the average square meter price for second-hand OBOS-associated housing in the Oslo area was NOK 60,525. The square meter price is 1.4% lower than in September, and 4% higher than in October 2017.
‘’The start of the year was stronger than expected. Now the market has received a small correction. The increase in interest rates and a large offer have affected the willingness of home buyers to pay, but the large turnover shows that buyers have not sat on the fence” said Daniel Kjørberg Siraj, CEO of Obos.
For the country as a whole, the average square meter price for pre-owned OBOS-associated housing was NOK 53,186 in October. This is 1.6% lower than in September, and 3.2% higher than in October 2017.
‘’October has traditionally been a weak month. OBOS prices have fallen by 0.2% in October in the period 2004 to 2017, but with very large variations’’ Siraj said.
In October, 863 property sales were made of OBOS-affiliated homes against 754 in September and 759 in October 2017.
© NTB scanpix / #Norway Today