Sales of real property continue upward trend

A total of 104,000 properties were sold in the first three quarters of the year. This is 5,300 more than during the same period last year. The value of the sold properties totalled NOK 59.3 billion, NOK 11.4 billion more than the year before, preliminary figures show.

The combined value of the properties sold in the first three quarters of this year was NOK 23.7 per cent higher than last year. Increases in the three preceding years were 31.3, 15.9 and 11.3 per cent during the same period.

The number of properties sold increased 5.4 per cent on a national basis. The corresponding increase in the three preceding years was 15.4, 2.6 and 2.5 per cent. Sales in the first three quarters in 1997 were distributed as follows: 29,100 in first quarter, 36,400 in second quarter and 38,500 in third quarter. The number of transactions in Akershus, Hedmark, Vestfold, Telemark and Nord-Trøndelag counties increased by more than 10 per cent. The only county to show a decline was Finnmark, and it was a small one. The combined value of sold properties rose in all counties.

Two-thirds were dwellings

Two-thirds of the sales concerned home sales, which totalled 70,400 in the first three quarters of this year. Eighty-eight per cent were built properties while 12 per cent were without buildings. Sales of residential properties rose by altogether 5.8 per cent compared to the three first quarters last year.

A total of 44,700 residential properties were sold on the open market. The average price per residential property with buildings sold on the open market rose from NOK 776,000 in third quarter 1996 to NOK 897,000 in third quarter 1997, an increase of 15.6 per cent. Finnmark was the only county to post a decline in the average price for sold residential properties. The decrease was 6.7 per cent. All other counties had increases of more than seven per cent.

New Statistics

Sales of real property, 1-3 quarter 1997. Preliminary figures.
Statistics are published every quarter in the Weekly Bulletin of Statistics, Bygginfo and annually in the Official Statistics of Norway (NOS) Agricultural Statistics. More information: Jardbjørg Andreassen, tel. +47 62 88 52 36, e-mail: jar@ssb.no, or Astri Kløvstad, tel. +47 62 88 51 88, e-mail: kod@ssb.no.

Weekly Bulletin issue no. 51-52, 1997