Strongest growth for housing since 2009 – Aftenposten

House prices rose 0.2 percent in June, according to latest figures from real estate Norway.

Adjusted for seasonal variations, rose prices 0.7 percent this month.

– June was yet another month of strong price growth in the Norwegian housing market. Over the past ten years, only in 2009 where we had a stronger rise nationwide in June and the first half, says CEO of Real Estate Norway, Christian Vammervold Dreyer said in a statement.

The strongest growth Oslo

He said house prices are primarily driven by gains in eastern Norway.

Melbourne and Adelaide had the highest inflation respectively 1.3 and 1.1 percent. Also the last year, Oslo had the strongest price growth, with 13.4 percent.

Stavanger and Sandnes has had the vakeste development, with declines of 7.2 and 6 per cent last year.

– House price growth in Oslo and large parts of Eastern Norway shows few signs of slowing, and will also affect the housing market beyond autumn. The market in Stavanger seems to stabilize with a decline of only 1.0 percent overall in the first half, says Dreyer.

It was sold fewer homes in June than the same time last year, which was a record month. There are also fewer homes up for sale. Particularly in Oslo and Stavanger are sold significantly fewer homes than last year.

– But for the country as a whole, it is only in 2015 that it is sold more homes than in the year in June, says Dreyer.

Belief in far higher growth

House price growth so far this year is so powerful that the real estate Norway is obliged to significantly revise progrnoser for inflation this year. While the organization in January predicted that house prices would rise between 3 and 5 percent in 2016, has adjusted the now estimate to 7-8 percent.

Inflation so far this year has been 5.5 percent.

– We expect the tripartite division in the Norwegian housing market will intensify further. Oslo and eastern Norway will further increase, while growth will be more moderate in Bergen, Trondheim, Kristiansand and Tromsø. In Stavanger for housing prices will continue to fall slightly, but with a more moderate pace, says Dreyer.

Chief Economist think house prices level off

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