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The latest data from the real estate market indicate the direction of the chief economist's expectations regarding future interest rate increases. Handelsbanken believes that growth will be greater than Norges Bank's peak estimates. However, according to data from March, house prices are still rising. The chief economist of DNB emphasizes that this is a strong labor market and low indicators unemployment contributed to the good housing results. The price increase is described as "strong growth" by Eiendom Norge. However, it's worth remembering that it takes time for interest rate increases to actually impact most people's wallets.
Stable situation
Handelsbanken's chief economist, Marius Hov, notes that house prices are rising despite the sharp rise in interest rates, indicating that other forces are also affecting the real estate market, such as nominal income growth, population growth and limited housing supply. Despite expected interest rate increases, the housing market in Norway is still doing very well.
Norwegians show great interest in spending money on housing, which increases prices. Eiendom Norge describes this growth as strong, indicating the stability and strength of the Norwegian real estate market.
Read our next article: Real Estate Agent in Norway – Eiendomsmegler.
It's worth noting that despite positive housing results, future interest rate increases could impact most people's portfolios people and influence the real estate market in Norway. However, for now, thanks to a strong labor market and low unemployment rates, the housing market in Norway is doing very well.
Banking forecasts
Handelsbanken forecasts indicate that the interest rate will increase to 3,75%. in autumn, which is already a higher value than the peak Norges Bank interest rate at the level of 3,5 percent Interest rate meetings at Norges Bank will be held in May and June. In turn, DNB's chief economist, Kjersti Haugland. He believes that the interest rate will increase to 3,5 percent in May and June. and does not expect a new peak. However, there are possible other factors, such as the banking crisis in other countries, that could influence developments and reduce the pressure on interest rates in Norway.
