The house price statistics Property Norway, Finn.no and Eiendomsverdi presented last week showed that house prices rose 3.1 percent in January.
Adjusted for seasonal variations, prices rose 0.7 percent.
– Range if we look at the past ten years, but the market is strong, said CEO Christian V. Dreyer in Real Estate Norway when he visited the HegnarTV Friday.
the annual growth rate is 5.2 per cent . That house prices are now 5.2 percent higher than in January 2015.
– The differences are dramatic
Prices rose in all major cities in January, even Stavanger marked down for a price increase of 2.0 percent in the first month.
– This was perhaps what surprised us most, but it provides another very strange picture of reality. The supply side of Stavanger is up over 50 percent from January last year, while turnover has dropped almost 40 percent, said Dreyer.
Over the past year prices have fallen about six percent in Stavanger, while they are around nine percent in Oslo.
– the differences are dramatic, shooting editor Trygve OBI in.
Even more dramatic are the differences if we look back to 2013.
– Since the ever slump in Stavanger been 12 to 13 percent, while we certainly are up almost 25 percent in Oslo, supplemented Dreyer.
– Do not sell now if you do not have
Hugin then asked what advice he would give to homeowners in Stavanger and surrounding areas.
– Are you in a safe job, I would recommend to sit still. You should not go out now if you do not have to. It is in refraction times like now that the uncertainty is greatest and you struggle most with getting sold. This will also appear in the statistics eventually, when those who must sell realizes, said Dreyer.
– But what if detached houses and townhouses will fall 10.5 percent this year, ought people sell now? asked OBI.
– The question is whether the fall in prices is something you do not get out before people start accepting bids at significantly lower levels. The levels are substantially lower already, but there are very few who accept, tying Dreyer.
He further told that over 800 homes now is for sale in Stavanger, against 1100 in Oslo and around 600 in Bergen.
– 600 is considered pretty much in Bergen compared to what it has been, and says a lot about the state of Stavanger. And this is the only existing dwellings. New housing in addition, said Property Norway director.
Predicts more pain in Stavanger
Presenter Eline Hvamstad then asked Dreyer about the price developments he envisions in Stavanger this year.
– It will be a year of many minus of the individual months. Prices will probably go part down. A similarly large fall in the past year (ie six percent) is not unthinkable, he said.
Back to Oslo wondered OBI why homeowners there do not come running with housing when housing prices are so high.
– What we see in Oslo, is that very few sell before they buy. People do not see the risks of buying first, because they “know” that they get sold. In Stavanger, the opposite is true. People have no idea what they are getting for the residence and decide to sell first. This move really on the market. When you (in Oslo), in addition has low housing construction over time, and fierce battle for customers in the banking sector, we get a pressure there, explained Dreyer.
– Several banks in the Stavanger area now say that you get between funding if you sell first. Then the banking sector procyclical in relation to the business cycle, when we really need it a bit opposite brake- and gas function, he added.
Looks nothing imminent declines in Oslo
Dreyer looks not otherwise for something speedy declines in Oslo.
– the most important thing in Oslo is what happens of stimulus to housing construction. We see for example Frysja the Planning and Building Authority has taken down a single project with 300 units. In addition we have a small house plan that says you do not want densification. The protection period of 100 days are now over, and we must now see the effect of lifting the new city council gave in the election campaign, namely to regulate enough land for housing construction, said Dreyer.
Last year about 3,000 homes built in Oslo, while the need according to house builders are doubled.
– in recent years the building has been around 2,000 homes a year, so 3,000 last year was a huge upswing. We are far from building enough, said Dreyer.
– So prices will therefore continue to rise in Oslo? asked OBI.
– We have said four percent nationwide this year and well above that in Oslo, concludes Property Norway director.
No comments:
Post a Comment