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In Akershus, except for Bærum, the price increase from second to third quarter 1996 was about three per cent for all types of housing. In this area, prices of existing homes have shot up 50 per cent since hitting their lowest point in first quarter 1993.
Prices of existing homes in Norway rose nearly two per cent from second to third quarter 1996, and were in third quarter 1996 nearly eight per cent over the level of the previous year. The increase has been the strongest in Akershus County (Greater Oslo), except for Bærum, over the past year. Here, prices of existing single family homes rose nearly 18 per cent from third quarter 1995 to third quarter 1996. The prices of apartments and small nondetached dwellings rose respectively 13 and seven per cent in this county.
10 per cent more expensive in Oslo and Bærum
In Oslo including Bærum prices of existing homes climbed 10.3 per cent from third quarter 1995 to third quarter 1996. The prices of small nondetached dwellings increased the most here, with 14.1 per cent. For apartments and single family homes the increase was 10.9 and 5.5 per cent, respectively. From second to third quarter 1996 prices of existing homes increased the least in this area of the country, rising only 1.2 per cent.
Most expensive in Oslo and Akershus
The average square metre prices for existing homes sold in first, second and third quarter 1996 show that Oslo is the most expensive with NOK 8,531 per sq. metre of utility floor space. In Akershus the average price is NOK 6,478. Next is Troms County with NOK 5,494 per sq. metre. Last is Nord-Trøndelag with NOK 4,193 per sq. metre of utility floor space. Utility floor space includes in addition to living space, basements, storerooms, etc. in single family homes and small nondetached dwellings. Common areas in apartments are not included.
Weekly Bulletin issue no. 1, 1997