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Stable prices for new detached houses
statistikk
2013-07-11T10:00:00.000Z
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
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Price index for new detached houses, Q1 2013

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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Stable prices for new detached houses

Prices of new detached houses only decreased by 0.1 per cent from the fourth quarter of 2012 to the first quarter of 2013.

New detached houses, price index (2000=100)Published 11 July 2013
Price indexPercentage change from the same quarter of the previous yearPercentage change from the previous quarter
2nd quarter 2012197.55.12.7
3rd quarter 2012200.65.01.6
4th quarter 2012197.83.9-1.4
1st quarter 2013197.72.8-0.1

Source: Statistics Norway

Figure 1. New detached houses, price index. 2000=100

Although the prices remained almost unchanged from the fourth quarter of 2012 to the first quarter of 2013, new detached houses were 2.8 per cent more expensive in the first quarter of 2013 than in the first quarter of 2012. The contractors’ construction costs for detached houses of wood increased by 3.1 per cent from the first quarter of 2012 to the first quarter of 2013, according to Statistics Norway’s construction cost index.

A total of 676 observations were used in the calculation of the index for the first quarter of 2013.

Data sourcesOpen and readClose

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 measurementOpen and readClose

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.