Price of housing rose in Oslo and Bærum in excess of 20% last year

Norway TodayPicture from Bærum city.Photo Norway Today Media

Prices for homes rose in all regions at the start of 2017. During the past year, the largest price increases were in Oslo and Bærum, at 21%.

Statistics Norway reported that, on average throughout the country, prices rose by 1.9% in the first quarter of this year. Seasonally adjusted figures showed that growth is still the strongest in the metropolitan areas.

While the price of apartments increased by 2.5% in the first quarter of the year, detached houses and cottages were 1.8% more expensive.

Housing prices shot up in Akershus and Oslo mostly, at 3.8%, and 3.0%, respectively. Of the major cities, Bergen showed the weakest price growth in the first quarter, at 0.2%. In the country’s northernmost counties, prices remained virtually unchanged during the same period.

After Oslo and Bærum’s 21%, the rest of Akershus followed at 16%, and then Hedmark and Oppland, at 10.3%. The weakest price growth was found in Western Norway, excluding Bergen, at 1.8%.

Source: NTB scanpix / Norway Today