the Case is updated.
House prices will rise by 9-11 per cent in 2017, predicts the Property of Norway. It is projected to climb throughout the country, but in sacramento, the situation is different. Property Norway predicts low growth while the DNB Property predicts no-growth.
– We expect a strong price inflation in the first months of 2017, while the market throughout the year will follow a more normal development with the flattening in the price development in the summer months and a smaller decline at the end of the year. We also expect that the regional differences in price movements will become increasingly smaller beyond in 2017, ” says president and ceo Christian Vammervold Dreyer of the Estate in Norway, according to a press release.
They believe the 2017 starts with few homes for sale and a squeezed market, but that the situation will normalise.
DNB Property think the lower growth on the country level, at five per cent. Part of the reason is a lower forecast for Stavanger. Also DNB Eiendom think of a double digit growth for Oslo next year.
– There is a decrease from this year’s strong rise in house prices . An 11% tolvmånedersvekst in Oslo is still a lot. We believe in a strong price inflation in the first four-five months. But there will still be large regional differences, ” says Terje Halvorsen, chief executive officer of DNB Eiendom.
” We think the trend with historically few homes out in the Eastern regions will last. We are going to get an entrance in 2017 with the historically low number of homes on the Eastern part of norway. The rest of the country will be more normal.
Halvorsen see any signals that the boligprisveksten can flat-out on Eastern time, and land at a more normal price level.
– Now sold toromsleiligheter for four million, however, only blown them out. Had I said it two years ago had people thought I was crazy. No one could have believed in the violent rise in prices a few years ago.
One city stands out when it comes to house prices the CLIMB: House prices rose 11.6 per cent in the last twelve months, 21,7 per cent in Oslo. Photos: Pedersen, Terje / NTB scanpix
Here are the Property of Norway’s forecasts for house prices 2017:
Oslo: 10-12% Bergen: 4-6% Trondheim: 4-6 per cent Stavanger 1-3 per cent
Here is DNB Eiendom and DNB Markets forecasts for house prices 2017:
Norway: 5 percent Oslo, norway: 11% Bergen: 3 per cent Trondheim, norway: 7% Stavanger: 0 per cent, i.e. the stable
DNB Markets predicted earlier in the week a rise in house prices of nine percent for 2017. Halfway in the year will the growth slow down somewhat – residential construction is on the way up, boliglånsforskriften can be tightened from the new year and interest rates will not fall further, according to DNB Markets analysts.
New byggekrav to provide cheaper housing GROWTH: Double-digit growth in 2017, believe Opportunities in real Estate Norway. Photo: Roald, Berit / NTB scanpix
Missed the forecast in the year
– We overvurderte the negative outlook for the Norwegian economy at the beginning of 2016, and was therefore a part of our forecast for 2016 . There is a greater degree of predictability into 2017, but one of the biggest uncertainties that is what minister of finance Siv Jensen does with boliglånsforskriften, and how any innstramninger in this will work in the housing market. Historical experience shows that kredittsiden is the main reason for the sudden shift in boligmarkedene, ” says Dreyer.
Property Norway expects less pressure in Oslo in 2017. In Bergen and Trondheim, they expect a somewhat lower inflation rate than the country otherwise. Stavanger has priced though, but there is still uncertainty related to the unemployment rate.
Kristiansand has for the last twelve months had a very moderate development of three-four per cent. The moderate development has lasted for a while and will also characterize the market going forward. There is a certain infection from Rogaland in Kristiansand, norway with a view on the labour market. The development in Kristiansand will probably be something better than in Stavanger, but weaker than the country otherwise, ” says Dreyer of the Estate in Norway.
LOWER IN 2017: None of the experts think at the same growth in the housing market in 2017 as in 2016. Photos: Grøtt, Vegard Wivestad / NTB scanpix
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