Sharp downturn in new housing sales

housingHousing.Photo: Pixabay

Sales of new homes fell by 17% in the first quarter of this year, compared to the same period last year, new figures from the Housing Manufacturers’ Association show.


Over the same period, housing prices were 26% lower than in the first quarter of last year,the figures presented Tuesday showed.

“The biggest decline in sales are for small houses,with a decrease of 39% compared to the first quarter of 2017. Sales of apartments and detached houses were 13% and 2% lower, respectively, than last year,” said Per Jæger, Managing Director of the Housing Manufacturers’ Association.

The start-up so far this year by housing type shows a decrease of 40% for small houses, 25% for single-family homes and 20% for apartments.

One reason for the decline is that Easter fell in March in 2018, while it was in April in 2017.

A total of 26,536 new homes have been sold in the past 12 months, 26% below the level the year before. In total,28,969 new homes have been sold in the same period, a decrease of 12% from the previous year.


© NTB Scanpix / #Norway Today