Norway property sales rate slowing / News / The Foreigner

Norway property sales rate slowing. Estate agents are signalling people must be prepared for it to take longer to sell their homes. “The last three-month growth rate is now at 0.8 per cent if you calculate average growth from the previous three. It hasn’t been this low since 2009,” senior analyst Katrine Godding Boye at Nordea said to Aftenposten. “This spring has been weak price-wise. At the same time, a flattening out is more likely than a price-fall ahead because of the other factors that drive the housing market, income growth, relatively low unemployment and low interest rates,” she added

norwayhouseprices, propertynorway



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Norway property sales rate slowing

Published on Thursday, 13th June, 2013 at 07:00 under the news category, by Lyndsey Smith   .

Estate agents are signalling people must be prepared for it to take longer to sell their homes.

House on lists
House on lists
Photo: Daft_Lion_Studio/Istockphotos


“The last three-month growth rate is now at 0.8 per cent if you calculate average growth from the previous three. It hasn’t been this low since 2009,” senior analyst Katrine Godding Boye at Nordea said to Aftenposten.

“This spring has been weak price-wise. At the same time, a flattening out is more likely than a price-fall ahead because of the other factors that drive the housing market, income growth, relatively low unemployment and low interest rates,” she added

State number cruncher Statistics Norway (SSB) has downwardly adjusted their prognoses for the coming years.

An Oslo resident Marianne Klemp told the paper she is still struggling to find a buyer for her central Oslo two-room apartment and has now had to reduce the price.

“There was one person a day who came to the first two viewings and a total of about five people at the next ones. I’ve just got an offer of 200,000 below the sales price, but it’s 150,000 less than what I paid for it have just received an offer 200,000 kroner under tariff, but it's 150.000 kroner below what paid for it two years ago,” she explained.

Property sales major Eiendomsmegler1 CEO Odd Nymark said “We note that the market has been a little slower in the last three months. There are no housing types that stand out, it’s across the board. It’s is a bit strange since this is peak season.”

According to Aftenposten, Norway’s largest bank expects prices to rise two per cent next year, predicting a fall the two years after that.



Published on Thursday, 13th June, 2013 at 07:00 under the news category, by Lyndsey Smith   .

This post has the following tags: norwayhouseprices, propertynorway.





  
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