Housing prices flatten out

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Average housing prices rose o.7 percent from February to March, according to figures from real estate brokers released this week. When corrected for seasonal variations, though, the increase was pegged at just 0.1 percent, and many brokers think prices may be flattening out.

After years of red-hot real estate markets in many Norwegian cities, things are settling down. Brokers aren’t the only ones seeing some lower price rises and, in some markets, slower sales. Optimism among buyers and sellers is also waning, according to a new survey conducted by TNS Gallup for major Nordic bank Nordea.

The survey showed that only a slim majority of those questioned, 53 percent, now think housing prices will continue to rise during the next year. That compares to 58 percent in August.

It also became a bit more expensive to rent housing last month, at least in Oslo. News bureau NTB reported that the average rental rate for a three-room apartment in Oslo in March was NOK 14,188 (USD 1700), up 2.4 percent from March 2014.

newsinenglish.no staff