Increase in sales of dwellings

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The number of dwelling properties sold on the free market increased by 3 per cent from the second quarter of 2016 to the second quarter of 2017. For holiday homes sold on the free market there was a decrease of 2 per cent in the same period.

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A total of 48 000 transfers of real property were registered in the second quarter of 2017; an increase of 1.4 per cent compared with the second quarter of 2016, according to the statistics Transfer of properties. The aggregated value of the transferred properties amounted to NOK 113 billion; an increase of 11 per cent compared with the same quarter of 2016. In addition, 10 200 properties owned through a housing cooperative were transferred in the second quarter of 2017. See more figures and tables from the statistics Transfer of properties.

Figure 1. Registered transfers of real property. 1st quarter

Number of transfers Registered amount in NOK million
2006 42070 52995
2007 44279 62787
2008 44467 67392
2009 39595 55549
2010 39677 59507
2011 42276 69257
2012 44774 80548
2013 45417 85542
2014 45678 86426
2015 48354 101413
2016 48409 101716
2017* 47744 112693

Increased sales of dwellings

In total, 22 300 dwelling properties were sold on the free market in the second quarter of 2017; an increase of 3 per cent compared with the same quarter in 2016. The aggregate value amounted to NOK 113 billion, an increase of 11 per cent compared to the corresponding quarter of the previous year. The average price per transfer was NOK 3.7 million. The highest average price per dwelling transfer in the second quarter of 2017 was recorded in Oslo at NOK 6.4 million.

Figure 2. Average purchase price per transfer of built-up dwellings and holiday homes properties on owned site sold on the free market

Dwellings Holiday homes
Q1-2009 2259 1388
Q2-2009 2283 1444
Q3-2009 2279 1288
Q4-2009 2421 1348
Q1-2010 2446 1406
Q2-2010 2458 1438
Q3-2010 2456 1304
Q4-2010 2443 1272
Q1-2011 2533 1345
Q2-2011 2604 1515
Q3-2011 2652 1400
Q4-2011 2690 1309
Q1-2012 2785 1358
Q2-2012 2832 1504
Q3-2012 2883 1329
Q4-2012 2871 1353
Q1-2013 3024 1482
Q2-2013 3075 1455
Q3-2013 3082 1377
Q4-2013 3020 1368
Q1-2014 3090 1578
Q2-2014 3089 1592
Q3-2014 3154 1504
Q4-2014 3205 1542
Q1-2015 3287 1649
Q2-2015 3303 1660
Q3-2015 3271 1591
Q4-2015 3273 1499
Q1-2016 3346 1620
Q2-2016 3391 1701
Q3-2016 3380 1437
Q4-2016 3573 1681
Q1-2017* 3709 1727
Q2-2017* 3702 1922

Figure 3. Number of dwellings sold on the free market by type of dwelling.  2nd quarter

Detached houses Row houses House with 2 dwelling units Multidwelling Other building Unknown
2010 8846 1818 1876 8137 1227 207
2011 8577 1770 1739 7801 1214 222
2012 8144 1660 1653 7914 1317 236
2013 8700 1886 1676 7370 1180 256
2014 8278 1591 1635 6330 1180 312
2015 7573 1411 1403 5493 966 281
2016 8501 1649 1754 7456 1160 246
2017* 9039 1774 1868 8280 1149 217

Decrease in sale of holiday homes

In the second quarter of 2017, a total of 3 300 holiday homes were sold on the free market. This is a decrease of 2 per cent. Almost 2 600 of these were holiday homes on an owned site, while 650 were transfers of holiday homes on a leased site. The average price per transfer was NOK 1.9 million for holiday homes on an owned site, and NOK 1.6 million for holiday homes on a leased site

Figure 4. Number of holiday homes on owned site sold on the free market, by size of purchase price in NOK 1 000. 2nd quarter

-199 200-499 500-999 1 000-2 999 3 000-
2008 276 408 452 748 225
2009 227 358 424 749 212
2010 166 373 491 712 229
2011 201 357 419 785 249
2012 162 361 489 850 258
2013 174 304 467 836 220
2014 145 331 488 889 277
2015 160 325 541 1017 327
2016 173 415 519 1100 396
2017* 155 355 481 1125 526

Figure 5. Number of holiday homes on leased site sold on the free market, by size of purchase price in NOK 1 000. 2nd quarter

-199 200-499 500-999 1 000-2 999 3 000-
2008 48 120 204 288 76
2009 39 113 170 219 46
2010 54 83 176 280 50
2011 31 96 169 272 56
2012 28 120 185 246 64
2013 23 81 195 279 43
2014 38 92 170 278 43
2015 21 120 191 318 65
2016 30 89 221 331 92
2017* 20 84 157 300 87

Not price statistics

The statistics are based on the number and the value of the registered transfers of real property. The composition of sold properties varies over time as regards size, standard and location. Due to this, the change in average price per transfer from one year to another does not reflect the correct price trend for a certain type of property.

For instance, a large number of high-standard holiday homes have been built in recent years. Therefore, the average purchase price per transferred holiday home has increased more than the price of one single holiday home.

For the development of the prices for existing dwellings in Norway, see the House price index.

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