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House prices down 0.7 per cent
statistikk
2013-01-16T10:00:00.000Z
Prices and price indices;Construction, housing and property
en
bpi, Price index for existing dwellings, price development, house prices, detached houses, town houses, blocks of flats, housing cooperatives, homeowner, price per square metre, house salesDwelling and housing conditions , House prices and house price indices , Construction, housing and property, Prices and price indices
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Price index for existing dwellings, Q4 2012

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An error has been identified in ‘The Index for row houses for Nord-Norge' for the period 2nd quarter 2012 - 1st quarter 2014. This has also affected the total figures. Updated figures for this period are available in StatBank.

House prices down 0.7 per cent

House prices fell on average by 0.7 per cent from the third to the fourth quarter of 2012, but are still 6.7 per cent higher than a year ago.

Prices for detached houses and flats in blocks decreased by 1.2 and 0.3 per cent respectively from the third to the fourth quarter of 2012, while row houses increased by 0.1 per cent.

From 2011 to 2012, average house prices increased by 6.7 per cent. Prices for flats in blocks had the highest increase, by 9.0 per cent. For row houses and detached houses the growth was 6.4 and 5.9 per cent respectively.

House price index for detached houses in Norway, Sweden and Denmark. 1st quarter 1992=100

House price index by house type. 1st quarter 1992=100

House price index. Change in per cent
 
 3rd quarter 2012-
4th quarter 2012		    4th quarter 2011-
4th quarter 2012
 
Total-0.76.7
Oslo incl. Bærum-1.38.3
Stavanger-0.97.2
Bergen0.75.3
Trondheim0.67.9
Akershus excl. Bærum1.18.4
South Eastern Norway-0.96.2
Hedmark and Oppland-2.06.8
Agder and Rogaland excl. Stavanger-0.25.1
Western Norway excl. Bergen-0.63.8
Trøndelag excl. Trondheim-0.77.4
Northern Norway-2.56.1
 

House prices in Trondheim and Trøndelag had the highest rise, by 8.4 per cent. Western Norway excluding Bergen, and Agder and Rogaland excluding Stavanger had the lowest increase, of 4.7 per cent.

Growth in the large cities

In 2012, house prices were 60.9 per cent higher than the 2005 average. Stavanger had the strongest increase with 106.4 per cent. During the same period, Bergen and Trondheim had the lowest price growth among the large cities, with 54.2 and 58.8 per cent. In Oslo the increase was 63.3 per cent.

Houses that are sold at different times differ as regards size, location and standard. In order to show the clear price change between different periods of time, Statistics Norway uses a correction method for some of these quality differences. It corrects ??for differences in size, type, year of construction and geographical location. The model does not correct for changes in housing standard. This means that the calculations overestimate inflation somewhat, especially in periods of strong growth in the construction of houses.

 

A total of 17 600 house sales are used in the index computation for the fourth quarter of 2012.

Average square metre prices, together with the full time series, can be found in “ StatBank ”.

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