The house price statistics from the real estate Norway, Finn.no and Eiendomsverdi presented yesterday showed that house prices rose 1.9 percent in March.
Adjusted for seasonal variations, prices rose 1.2 percent.
Thus, house prices have risen 5.6 percent since March last year, compared with an annual rise of 4.4 percent in February.
Real Estate Norway-director Christian V. Dreyer warned against “a clear Easter effect.”
– Sales days were few, and we are talking about only a single month. We should see March and April in context before we conclude more if this is a new trend or a blip, he said at yesterday’s presentation.
– Lite suggests lower temperature
DNB Markets talking about the same cautious public in today’s morning report.
– Either there is little to suggest that the temperature in the housing market decreases significantly. This development was somewhat surprising given that the Norwegian economy is in a recession with rising unemployment. One explanation may be that oil brake now has hit “skewed”, with a sharp rise in unemployment in Western Norway, while the rest of the country has been less affected, writes analyst Camilla Viland.
– Oslo will remain tight
Further support ever lower interest rates under the housing market, in that households are able to handle a bigger debt – so also NEF director Carl O. Geving pointed out to Hegnar.no yesterday.
– At last it has for several years been built fewer homes than it needs. Especially in Oslo this has been a challenge. This indicates that the housing market will remain tight in the capital ahead. On a national basis, we expect the temperature to decrease and prices gradually decline somewhat as oil brake is picking up and unemployment rises further, writes DNB Markets.
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