Housing prices were unchanged in December. Adjusted for seasonal variations, prices rose by 0.8 per cent.
House prices rose by 8.7 per cent in 2020.
- The strong development we have seen in the housing market in both prices and volume continued in December. Unchanged house prices are abnormal for December, and 2020 was the strongest year in the housing market since the record year 2016, says CEO of Eiendom Norge, Henning Lauridsen.
- No one hit with their forecasts for the housing market in 2020, which is due to the fact that the zero-interest rate decision from Norges Bank on 7 May was impossible to predict. The same applies to the measures against the corona pandemic which first gave a sharp fall in turnover and prices in March and April, and then with the zero interest rate which gave a broad and strong rise in house prices and activity throughout the country, says CEO of Eiendom Norge, Henning Lauridsen.
- The interest rate is the x-factor in the housing market now. As is normal for the first half of January and January, we expect a sharp increase in house prices in the coming months and especially January. The entire effect of the zero interest rate has probably not been taken out in the housing market yet, says Lauridsen.
In December, 3,811 homes were sold in Norway, which is 22.9 per cent more than in the corresponding month in 2019. In 2020, 99,581 homes were sold in Norway, which is 6.7 per cent more than in 2019.
In December, 3,416 homes were put up for sale in Norway, which is 6.5 per cent more than in the same month in 2019. In 2020, 102,175 homes were put up for sale, which is 1.3 per cent less than in 2019 .
- A record number of homes were sold in December, as in recent months, and never before have so many homes been sold in Norway during a year as in 2020, Lauridsen says.
- The growth in the number of new homes on the market continued in December, but overall, slightly fewer homes were put up for sale in 2020 than in 2019. We expect that there will be many new second-hand homes on the market in the coming months, says Lauridsen.
It took an average of 60 days to sell a home in December 2020. This is an increase from 46 days in November. Oslo had the shortest sales time with 22 days and Hamar w / Stange had the longest sales time with 83 days.
- The sales period increases as normal significantly in December. This is because in December many homes are sold that have been on the market longer, says Lauridsen.
Oslo strongest in December and 2020
Oslo had the strongest seasonally adjusted price development in December, with an increase of 1.7 per cent. Hamar w / Stange had the weakest seasonally adjusted price development with a decrease of 0.1 per cent.
Oslo and Bodø w / Fauske had the strongest development in 2020, with an increase of 12 and 11.1 per cent, respectively. Stavanger and the surrounding area had the weakest development in 2020 with an increase of 5.2 per cent.
- In 2020, we have seen a broad and strong rise in house prices across the country. And after seven years of falling prices in Stavanger, the region finally saw a rise in house prices. It will probably be positive for the dynamics in the market there, says Lauridsen
- For Oslo, there is cause for concern. An increase in house prices of 12 per cent is in excess of what is healthy, and house prices in Oslo have more than doubled since 2010. It is a good document in research that the combination of low interest rates and low housing construction is explosive. It is therefore essential that the developers and the City of Oslo come together and regulate several housing projects in the capital. The housing market needs all the housing the market can get. Adequate housing construction is price-reducing, Lauridsen concludes.
Eiendom Norge slipper i dag også våre regionsrapporter med boligprisutviklingen i 98 kommuner og bydeler i de store byene per kvartal.
Rapportene kan lastes ned her.
NB! Prisutviklingen målt kvartalsvekst vil kunne avvike noe fra prisutviklingen målt som 12 måneders vekst, grunnet lenger sammenligningsgrunnlag.