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11448
Increase in prices of new detached houses
statistikk
2009-01-08T10:00:00.000Z
Prices and price indices;Construction, housing and property
en
enebolig, Price index for new detached houses, price development, new buildingsDwelling and housing conditions , House prices and house price indices , Construction, housing and property, Prices and price indices
false

Price index for new detached houses, Q3 2008

The price is connected to the quarter in which the local authorities register the construction work as completed and not at the time of entering into the sales contract. Therefore, the price index for new detached houses intercepts large changes in the market with a delay of almost one year.

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Increase in prices of new detached houses

Prices of new detached houses increased by 11.5 per cent from the third quarter of 2007 to the third quarter of 2008. From the second to the third quarter of 2008, the prices of new detached houses increased by 0.4 per cent.

New detached houses, price index. Seasonally adjusted. 2000=100

Adjusted for seasonal variations, prices of new detached houses increased by 1.7 per cent, from the second to the third quarter.

While prices of new detached houses increased by 11.5 per cent from the third quarter of 2007 to the third quarter last year, the contractors’ construction costs increased by 5.1 per cent in the same period, according to Statistics Norway’s construction cost index for detached houses of wood.

A total of 397 observations have been used in the calculation of the index.

New detached houses, price index. 3rd quarter 2008. 2000=100
  Index Change in per cent
  3rd quarter 2008 2nd quarter 2008-3rd quarter 2008 3rd quarter 2007-3rd quarter 2008
Unadjusted index  170.1 0.4 11.5
Seasonally adjusted index  170.3 1.7 -

Data sources

The data for computing the price index are obtained from two different sources: Ground Parcel, Address and Building Register (GAB), and a quarterly survey. The GAB provides information on dwellings completed during the reference period; location, utility floor space and who the owner is. Through the survey Statistics Norway collect information about prices and quality characteristics that may have an influence on the price.

Time of measurement

The price is connected to the quarter in which the municipalities register the construction work as completed and not at the time of entering into sales contract. Therefore, the price index for new detached houses intercepts large changes in the market with a delay of nearly one year.

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