Transfer of properties, Q4 2004, preliminary figures

5 600 more transfers of real property were registered in 2004 compared with 2003. The whole increase occurred in the first two quarters, with plus 3 300 and plus 2 900 transfers respectively. In the third quarter the number of transfers were unchanged, while it fell by 600 in the fourth quarter. Over the year 2004, transfers increased in most counties.

The aggregate value of the properties transferred has increased in all quarters 2004 compared with the corresponding quarters in 2003. The development in value follows the same course as the number of transfers; the increase is huge in the two first quarters, followed by a falling increase. The aggregate value increased in all counties from 2003 to 2004. In 2004, the aggregate value of the transferred properties was 68 per cent higher than the corresponding value five years ago. These amounts are not adjusted for the general increase in prices, measured by the Consumer Price Index. The low rate of interest lasting since the last part of 2003, is supposed to significantly influence both on the demand and price level of real property.

Increase in transfers of holiday properties and various industrial properties

The majority of the transferred properties are dwelling properties. In 2004, this type amounted to 68 per cent of the total number of transfers. Including all type of dwelling property transfers, the number increased by 0.7 per cent from 2003 to 2004. The transfer of other types of properties rose significantly more. Holiday properties increased by 10 per cent, of which holiday property sites increased with as much as 21 per cent. Furthermore, agricultural/forestry/fishery properties rose by 7 per cent, commercial/office properties with 12 per cent and industrial properties with 11 per cent.

Of a total of 114 300 transferred dwelling properties in 2004, 69 000 were properties with building sold on the free market. In 2003, 66 700 such properties were sold. The average price per transfer has risen from NOK 1,501 million in 2003 to NOK 1,643 million in 2004. This corresponds to plus 9.5 per cent. The average price has increased in all counties and relatively most in Finnmark, Telemark and Oslo.

Before 2000, the percentage distribution by dwelling type was quite stable. The two most important types, detached house and flat in multi-dwelling houses have amounted to about 50 and 20 per cent respectively. However, during the last five years the share of detached houses has declined from 52.0 per cent to 45.5 per cent and the share of flats has increased from 20.5 per cent to 27.3 per cent. The shares of other types of dwelling properties have changed insignificantly.

Holiday property prices up 86 per cent in the course of 5 years

The number of transferred holiday properties with building sold on the free market has risen by 36 per cent from 1999 to 2004. The increase last year was 16.3 per cent. From 1999 to 2004, the average price per property has increased from NOK 431 000 to NOK 804 000. This corresponds to an increase of 86.5 per cent.

Tables:

• Table 1 Registered transfers of real property. 2001-2004*
• Table 2 Registered transfers of real property, by quarter. 1998-2004*
• Table 3 Registered transfers of real property, by type of property. 2001-2004*
• Table 4 Registered transfers of real property, by type of transfer and type of property. 2004*
• Table 5 Transfers of dwelling property with building, free market sale, by purchase price
• Table 6 Transfers of dwelling property with building, free market sale, by type of dwelling
• Table 7 Transfers of holiday property with building, free market sale, by purchase price