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11442
Prices of new detached houses nearly unchanged
statistikk
2009-09-18T10:00:00.000Z
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, Q2 2009

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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Prices of new detached houses nearly unchanged

The prices of new detached houses increased by 0.2 per cent from the first to the second quarter of 2009. When adjusted for seasonal variation, the prices decreased by 1.4 per cent.

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

While prices of new detached houses increased by 2.8 per cent from the second quarter of 2008 to the second quarter of 2009, contractors’ construction costs increased by 2.2 per cent in the same period, according to Statistics Norway’s construction cost index for detached houses of wood.

A total of 461 observations were used in the calculation of the index in the second quarter.

New detached houses, price index. 2nd quarter 2009. 2000=100
  Index Change in per cent
  2nd quarter 2009 1st quarter 2009-2nd quarter 2009 2nd quarter 2008-2nd quarter 2009
Unadjusted index  174.1 0.2 2.8
Seasonally adjusted index  172.6 -1.4 -

Data sources

The data for calculating 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 collects 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 the 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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