Low sales and construction of new homes registered in Norway due to rise in prices of building materials

Construction - houses - homesPhoto: Håkon Mosvold Larsen / NTB
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According to the Housing Manufacturers ‘ Association organization, the rise in prices of building materials caused the sales and start of construction of new homes between July and October to be at a record low level.

“The weak housing figures for October are a direct result of the sharp rise in prices of building materials,” CEO Per Jæger of the Housing Manufacturers’ Association stated.

On Tuesday, they presented figures showing that 19% fewer new homes were sold in October this year than in October last year. At the same time, the construction of 41% fewer new homes was started last month than in the same month last year.

The construction and sale of new homes have not been lower between July and October this year since Boligprodusentene began to keep records in 2010.

Despite the poor development since last summer, the construction and sales so far this year are still higher than in the same period last year. So far this year, 9% more homes have been constructed, and 11% more new homes have been sold.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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