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All four geographic zones saw a jump in home prices from 1995 to 1996, with the biggest increases occurring in Oslo and Akershus (Greater Oslo). Home prices rose 12 and 13 per cent, respectively, in these counties. In other major urban areas - Stavanger, Bergen and Trondheim - and in the rest of the country, prices rose the same amount, about seven per cent.
Statistics Norway's price index for existing homes will show an eight per cent increase from 1995 to 1996. Apartments increased the most in price, rising 11 per cent during the period.
Largest jump in apartments
Prices of existing homes rose 2.2 per cent from the third to the fourth quarter, while prices of single family homes and semi- and undetached dwellings changed little. On the other hand, the price of apartments went up 4.5 per cent in this period. The greatest price increase was in the "rest of the country", which includes the entire country with the exception of Oslo and Akershus and the municipalities of Stavanger, Bergen and Trondheim. In these zones apartments were 5.2 per cent more expensive in the fourth quarter compared to third quarter 1996. During the same period, Oslo including the outlying western suburb of Bærum saw a 4.8 price rise, while the increase in Akershus excluding Bærum was 4.6 per cent.
Weekly Bulletin issue no. 13, 1997