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65481
Price increases for new detached houses
statistikk
2012-03-29T10:00:00.000Z
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 2011

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 increases for new detached houses

Prices of new detached houses increased by 6.6 per cent from the fourth quarter of 2010 to the fourth quarter of 2011.

New detached houses, price index. 2000=100

In spite of a price fall of 0.4 per cent from the third to the fourth quarter last year, new detached houses were 6.6 per cent more expensive in the fourth quarter of 2011 than in the same quarter of 2010. The contractors’ construction costs for detached houses of wood increased by 3.5 per cent in the same period, according to Statistics Norway’s construction cost index .

From 2010 to 2011, the annual price index for new detached houses increased by 5.7 per cent. This is based on the average of the quarterly indices.

A total of 823 observations have been used in the calculation of the index in the fourth quarter.

The complete time series can be found in StatBank .

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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