House prices down 0.4 per cent
Published:
The prices for existing dwellings decreased in many regions in the second quarter of 2017. The largest fall was in the Oslo region and the southern parts of Norway, according to seasonally adjusted figures.
- Full set of figures
- Price index for existing dwellings
- Series archive
- Price index for existing dwellings (archive)
House prices had the strongest decrease in Oslo and Bærum and in Agder and Rogaland excluding Stavanger, by 1.5 and 1.4 per cent respectively. In the other cities, house prices increased. Stavanger had the strongest price growth by 1.3 per cent, while Bergen and Trondheim saw an increase of 0.5 and 0.1 per cent respectively.
While prices of small houses increased by 0.4 per cent in the second quarter of 2017, prices of flats in blocks and detached houses fell by 1.7 and 1.0 per cent respectively, adjusted for seasonal variations.
Figure 1. Price for existing dwellings by house type. 1st quarter 1992 = 100
| Detached houses | Row houses | Multidwelling houses | |
| Q1-1992 | 100.0 | 100.0 | 100.0 |
| Q2-1992 | 100.9 | 100.9 | 101.4 |
| Q3-1992 | 101.8 | 101.3 | 102.0 |
| Q4-1992 | 99.8 | 95.2 | 99.2 |
| Q1-1993 | 95.0 | 93.2 | 95.3 |
| Q2-1993 | 100.7 | 98.2 | 99.7 |
| Q3-1993 | 104.4 | 101.8 | 104.7 |
| Q4-1993 | 105.7 | 105.0 | 112.3 |
| Q1-1994 | 107.4 | 107.7 | 117.6 |
| Q2-1994 | 109.6 | 114.3 | 122.3 |
| Q3-1994 | 114.7 | 119.1 | 124.6 |
| Q4-1994 | 116.2 | 118.2 | 122.1 |
| Q1-1995 | 116.8 | 118.4 | 122.1 |
| Q2-1995 | 121.7 | 123.2 | 126.5 |
| Q3-1995 | 123.8 | 124.3 | 129.3 |
| Q4-1995 | 122.7 | 127.6 | 131.0 |
| Q1-1996 | 124.3 | 127.6 | 135.2 |
| Q2-1996 | 129.8 | 134.0 | 143.9 |
| Q3-1996 | 133.0 | 136.6 | 146.4 |
| Q4-1996 | 135.0 | 138.4 | 153.9 |
| Q1-1997 | 133.9 | 142.8 | 161.7 |
| Q2-1997 | 144.2 | 152.6 | 171.5 |
| Q3-1997 | 145.3 | 153.9 | 171.8 |
| Q4-1997 | 145.7 | 154.4 | 177.1 |
| Q1-1998 | 146.6 | 166.7 | 192.5 |
| Q2-1998 | 156.7 | 175.0 | 203.6 |
| Q3-1998 | 156.4 | 171.5 | 201.4 |
| Q4-1998 | 151.7 | 167.5 | 195.3 |
| Q1-1999 | 155.6 | 174.3 | 209.2 |
| Q2-1999 | 166.5 | 188.4 | 228.8 |
| Q3-1999 | 166.5 | 192.5 | 239.9 |
| Q4-1999 | 170.5 | 202.2 | 248.9 |
| Q1-2000 | 175.5 | 210.7 | 277.7 |
| Q2-2000 | 189.9 | 227.4 | 286.6 |
| Q3-2000 | 184.3 | 219.1 | 280.4 |
| Q4-2000 | 186.9 | 220.0 | 272.6 |
| Q1-2001 | 190.1 | 225.9 | 293.0 |
| Q2-2001 | 200.9 | 236.4 | 301.1 |
| Q3-2001 | 199.8 | 235.3 | 305.3 |
| Q4-2001 | 197.8 | 234.0 | 305.9 |
| Q1-2002 | 201.8 | 242.3 | 322.3 |
| Q2-2002 | 210.7 | 248.9 | 329.6 |
| Q3-2002 | 199.6 | 247.6 | 328.8 |
| Q4-2002 | 199.4 | 244.1 | 323.2 |
| Q1-2003 | 205.3 | 246.9 | 328.2 |
| Q2-2003 | 207.7 | 249.3 | 323.5 |
| Q3-2003 | 205.3 | 250.2 | 333.2 |
| Q4-2003 | 206.1 | 254.8 | 345.3 |
| Q1-2004 | 224.5 | 266.9 | 362.3 |
| Q2-2004 | 227.3 | 275.0 | 365.4 |
| Q3-2004 | 225.8 | 278.5 | 375.1 |
| Q4-2004 | 227.1 | 282.2 | 383.2 |
| Q1-2005 | 236.6 | 295.4 | 396.0 |
| Q2-2005 | 245.9 | 301.6 | 397.6 |
| Q3-2005 | 246.3 | 304.0 | 409.3 |
| Q4-2005 | 244.6 | 307.8 | 414.4 |
| Q1-2006 | 259.5 | 327.0 | 440.0 |
| Q2-2006 | 273.4 | 342.9 | 457.4 |
| Q3-2006 | 279.4 | 353.8 | 486.2 |
| Q4-2006 | 282.1 | 358.2 | 495.2 |
| Q1-2007 | 299.9 | 385.1 | 519.5 |
| Q2-2007 | 316.1 | 395.5 | 523.4 |
| Q3-2007 | 314.5 | 397.2 | 524.4 |
| Q4-2007 | 309.2 | 389.5 | 502.4 |
| Q1-2008 | 318.1 | 400.8 | 505.6 |
| Q2-2008 | 325.9 | 397.7 | 505.7 |
| Q3-2008 | 313.5 | 384.5 | 493.8 |
| Q4-2008 | 292.7 | 357.2 | 454.5 |
| Q1-2009 | 302.5 | 373.0 | 482.3 |
| Q2-2009 | 319.8 | 389.5 | 506.2 |
| Q3-2009 | 322.2 | 399.2 | 526.0 |
| Q4-2009 | 321.2 | 401.9 | 527.2 |
| Q1-2010 | 333.9 | 416.7 | 535.3 |
| Q2-2010 | 349.2 | 428.8 | 547.1 |
| Q3-2010 | 343.2 | 432.4 | 554.3 |
| Q4-2010 | 341.9 | 433.0 | 556.0 |
| Q1-2011 | 359.0 | 454.5 | 587.5 |
| Q2-2011 | 371.9 | 462.1 | 598.8 |
| Q3-2011 | 369.2 | 465.7 | 614.6 |
| Q4-2011 | 366.3 | 465.4 | 616.6 |
| Q1-2012 | 378.4 | 483.5 | 637.6 |
| Q2-2012 | 393.3 | 493.8 | 653.4 |
| Q3-2012 | 392.8 | 496.5 | 672.0 |
| Q4-2012 | 387.9 | 497.1 | 670.0 |
| Q1-2013 | 399.6 | 514.9 | 689.8 |
| Q2-2013 | 415.2 | 520.4 | 697.9 |
| Q3-2013 | 404.7 | 513.7 | 691.8 |
| Q4-2013 | 393.5 | 505.9 | 664.3 |
| Q1-2014 | 403.0 | 517.7 | 680.5 |
| Q2-2014 | 422.2 | 525.5 | 704.7 |
| Q3-2014 | 419.8 | 528.2 | 715.7 |
| Q4-2014 | 415.7 | 524.6 | 720.5 |
| Q1-2015 | 427.1 | 548.8 | 757.3 |
| Q2-2015 | 444.4 | 562.7 | 772.7 |
| Q3-2015 | 441.0 | 558.5 | 779.5 |
| Q4-2015 | 429.1 | 552.7 | 772.7 |
| Q1-2016 | 444.9 | 573.9 | 803.0 |
| Q2-2016 | 463.6 | 593.2 | 837.8 |
| Q3-2016 | 465.6 | 608.9 | 878.2 |
| Q4-2016 | 461.7 | 607.4 | 895.6 |
| Q1-2017 | 478.3 | 631.1 | 932.3 |
| Q2-2017 | 489.6 | 637.2 | 918.4 |
Continued strong annual growth in the Oslo region
Following record high annual growth in Oslo by over 20 per cent, the price increase for existing dwellings was 13.0 per cent in the second quarter of 2017. Akershus follows by a growth rate of 12.4 per cent. The weakest price growth compared to the second quarter of 2016 was in Agder and Rogaland, and in Trøndelag, excluding the cities of the regions, with 0.2 and 1.9 per cent respectively.
Figure 2. Price for existing dwellings. Change compared with the same quarter of the previous year
| Oslo and Bærum | Stavanger | Bergen | Trondheim | |
| Q1-2006 | 10.4 | 17.7 | 14.5 | 9.7 |
| Q2-2006 | 14.5 | 23.2 | 15.8 | 11.4 |
| Q3-2006 | 17.7 | 29.1 | 18.1 | 11.5 |
| Q4-2006 | 18.4 | 30.5 | 21.7 | 12.4 |
| Q1-2007 | 19.0 | 29.1 | 17.5 | 10.6 |
| Q2-2007 | 14.8 | 21.6 | 13.0 | 9.1 |
| Q3-2007 | 8.8 | 17.8 | 5.3 | 7.0 |
| Q4-2007 | 3.3 | 12.6 | -0.1 | 1.9 |
| Q1-2008 | -1.6 | 6.6 | -5.5 | -1.3 |
| Q2-2008 | -2.3 | 5.7 | -5.0 | -0.2 |
| Q3-2008 | -4.8 | -1.4 | -9.9 | -4.7 |
| Q4-2008 | -9.1 | -7.0 | -12.5 | -6.9 |
| Q1-2009 | -6.5 | -7.8 | -9.7 | -4.4 |
| Q2-2009 | -0.6 | -5.2 | -5.1 | -3.1 |
| Q3-2009 | 6.6 | 3.3 | 6.5 | 3.9 |
| Q4-2009 | 15.2 | 15.2 | 13.9 | 13.9 |
| Q1-2010 | 12.7 | 18.2 | 13.8 | 14.5 |
| Q2-2010 | 8.9 | 16.8 | 14.6 | 11.6 |
| Q3-2010 | 6.1 | 14.1 | 9.3 | 12.5 |
| Q4-2010 | 6.7 | 9.5 | 9.0 | 9.1 |
| Q1-2011 | 10.9 | 10.4 | 12.2 | 9.2 |
| Q2-2011 | 9.7 | 9.6 | 7.4 | 12.4 |
| Q3-2011 | 9.7 | 9.2 | 8.8 | 10.0 |
| Q4-2011 | 9.4 | 9.0 | 10.9 | 12.4 |
| Q1-2012 | 7.0 | 5.6 | 7.9 | 8.0 |
| Q2-2012 | 8.1 | 7.8 | 5.8 | 8.5 |
| Q3-2012 | 9.1 | 9.6 | 6.5 | 9.2 |
| Q4-2012 | 8.3 | 7.2 | 5.3 | 7.9 |
| Q1-2013 | 7.9 | 7.4 | 4.6 | 11.5 |
| Q2-2013 | 5.3 | 4.5 | 9.8 | 6.3 |
| Q3-2013 | 0.7 | -0.3 | 6.4 | 5.0 |
| Q4-2013 | -1.2 | -1.8 | 1.3 | 1.0 |
| Q1-2014 | -2.4 | -5.5 | 2.8 | -1.1 |
| Q2-2014 | 1.1 | -1.9 | 1.0 | 4.2 |
| Q3-2014 | 4.5 | -0.9 | 4.9 | 2.5 |
| Q4-2014 | 8.3 | 1.0 | 9.1 | 7.4 |
| Q1-2015 | 11.9 | 2.0 | 8.5 | 6.5 |
| Q2-2015 | 10.0 | -3.7 | 10.1 | 5.7 |
| Q3-2015 | 10.3 | -5.3 | 7.4 | 7.1 |
| Q4-2015 | 9.2 | -8.1 | 4.5 | 3.5 |
| Q1-2016 | 9.4 | -10.2 | 1.0 | 6.5 |
| Q2-2016 | 12.7 | -7.8 | -0.3 | 4.7 |
| Q3-2016 | 17.9 | -5.4 | -0.3 | 7.4 |
| Q4-2016 | 21.7 | 0.4 | 3.2 | 9.1 |
| Q1-2017 | 21.1 | 5.4 | 4.5 | 7.4 |
| Q2-2017 | 13.0 | 6.9 | 4.0 | 6.2 |
Flats in blocks had strongest annual price rise
Among the dwelling types, flats in blocks had the highest annual price increase: 9.7 per cent compared to the same quarter last year. In Akershus excluding Bærum, the prices of flats in blocks increased by 15.0 per cent compared to the second quarter of 2016. Accordingly, the growth in Hedmark and Oppland was 13.1 per cent.
The price of small houses and detached houses increased by 7.4 and 5.5 per cent respectively from the second quarter of 2016.
Contact
-
Inger Jorun Monsrud
-
Mona Takle
-
Statistics Norway's Information Centre