The house price statistics from the real estate Norway, Finn.no and Property Value shows that house prices rose 0.2 percent in July.
Adjusted for seasonal variations, house prices up 1.0 percent.
– House prices grew strongly – and sometimes very strongly – in Oslo, Bergen and Trondheim, but more normal for July to be in the rest of the country, said Property Norway-director Christian V. Dreyer in the introduction of the presentation that was transferred here at OBI. no.
– This is the fifth consecutive month of strong seasonally adjusted growth, he continued.
Oslo and Trondheim showed the way in July with price increases respectively. 1.8 and 1.0 percent.
– Will top 10 percent on an annual basis
The annual growth rate nationwide is 8.8 percent. That house prices are now 8.8 percent higher than in July 2015.
This is a further boost from June, when the annual growth came in at 7.3 percent.
According to Dreyer will want to top the 10 percent annual growth during 2016.
– we are in a very strong trend in terms of house prices, he said.
the month we just added behind us were the second strongest July in the past decade. Only in July 2009 was stronger. When prices rose 0.4 percent nominally.
In six of the eight remaining years, house prices fell in July.
– Many will say growth is unhealthy
the regional differences are still very large, with Oslo and Stavanger at each end.
in Oslo, 12-year growth now stands at 15.2 percent.
– We see districts in Oslo now where prices have risen over 17 percent in the last 12 months. There is a particularly strong growth. But it rubs off on other cities in Eastern Norway, like ripples in water. Hamar is up to 12.3 percent inflation over the past 12 months, while we see 12.1 percent in Baerum, said Property Norway director.
– I could still ranks of cities with over 10 percent growth over 12 months. Many would describe this as an unhealthy growth that nobody really wants. The selling is probably happy, but they will often buy in the same market, so when it goes up in the continued Dreyer.
– The worst of Stavanger
Bergen market he described as balanced. Prices rose 0.5 percent in July, but is up just 4.0 percent over the last 12 months.
– There is a lot to choose from, but things are sold, said Dreyer.
in Trondheim supply side on the way to their lowest levels ever and Property Norway waiting here further pressure on prices in the future.
Tromsø and Kristiansand characterized as fairly normal markets with relatively good balance. The former had zero growth in prices in July, while the latter experienced a price decline of 0.5 percent. Over 12 months we are talking about, respectively. 3.3 and 5.0 percent inflation.
– Stavanger we have talked very much about, but the price fall in July of 0.6 percent is actually very normal. The decline of 6.3 percent over the last 12 months, an improvement from a month back, and several indicators suggest that we are approaching a normalization in Stavanger. If the Norwegian economy continues to develop positively, is probably the worst withdrawn in Stavanger – although we will also see negative numbers during the fall, said Dreyer.
– The supply side in Stavanger is now 50 percent lower than last autumn, and there are quite a few fewer homes. We got back to March 2015 to find a lower supply side. This is good news for them in the housing market in Stavanger, he added.
Sharp fall in housing sales
The number of homes sold last month came in at 3642, 11.0 percent fewer than in same month last year.
– This is a sharp decline, and last July was also no record month. This year the month of July shows the lowest number of homes sold in this month in the past decade. The main reason is Oslo, which in July had the lowest number of homes for sale ever and 23 percent fewer than in the same period last year.
– But with so little for sale’s not really surprising, continued Dreyer.
He sees no sign of a dramatic decline in sales.
– We are full speed in many cities already in August, as sales figures will remain high. Our analysis is that July is a breather, said Property Norway director.
Average turnover per month was at 51 days, up from 47 days in July last year.
– That provision currently falls in July is normal. Very little new is available for sale, and much of what is being sold is objects that have remained over from months before, said Dreyer.
– Almost surreal in Oslo
Oslo shows way with a turnover of 20 days, ahead of Trondheim and Bergen respectively. 30 and 31 days.
– The pace is thus well in many of the largest cities. In Stavanger, however, we see that the mediation time jumps to 130 days. This is a sign that many homes that have been around for long was sold in July. When communicating time doing that kind of jumps, it is very often a sign that it is starting to loosen, explained Dreyer.
The number of homes for sale showed albeit a slightly increasing trend towards the end of the month, but was at the end of July, up to 10,382. There are still 8.9 percent fewer than the same period in 2015.
– If we draw the historical perspective, we have not seen a lower supply side the last 10 years. The main reason is in Oslo and Eastern Norway. In Oslo we were in late July fell to 600 homes for sale, and it’s almost a little surreal considering how many people are looking. Here we enter August with a too low supply side, said Property Norway director.
– Large apartments are unsold
As usual came Dreyer with some political sigh at the end of the presentation.
– There is an urgent need for softening of apartment norm in Oslo. The pressure is greatest in the market for smaller center apartments, it is important that the increasingly built homes market demand. The need for 1- and 2-bedroom apartments are screaming, while building larger houses because the municipality requests it. We see several completed projects where 4-bedroom apartments are unsold, said Dreyer.
He stressed that adequate housing is price-dampening.
– Several municipalities in eastern Norway must be conscious its role in the housing market, and actively seek to streamline case management processes and control enough land for housing projects.
– But it is not just a task for facilitating increased residential construction. The government, following the announcement of its housing strategy in 2015 introduced many new regulations in the Planning and Building Act, but it takes time before this translates into increased housing, finished Dreyer.
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