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53303
Price fall for new detached houses
statistikk
2011-03-30T10:00:00.000Z
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, Q4 2010

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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Price fall for new detached houses

Prices of new detached houses fell by 2 per cent from the third to the fourth quarter of 2010, following a rise by 3.8 per cent the previous quarter.

New detached houses, price index. 2000=100

In spite of a price fall during the quarter, new detached houses were 2 per cent more expensive in the fourth quarter of 2010 than in the same quarter of 2009. The contractors’ construction costs for detached houses of wood increased by 3.4 per cent in the same period, according to Statistics Norway’s construction cost index .

Low annual growth

According to the annual price index, new detached houses are 1.6 per cent more expensive in 2010 than in the previous year. This is the lowest annual growth since 1993. The annual growth was at an all time high in 2007, by 11.6 per cent.

A total of 763 observations have been used in the calculation of the index in the fourth quarter.

The complete time series can be found in Stat Bank .

Data sources

The data for calculating the price index are obtained from two different sources: the Norwegian cadastre and a quarterly survey. The cadastre 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 almost one year.

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