Eiendom Norge regional reports for the first quarter of 2023 show an increase in housing prices throughout the country.
It is normal that we see growth in the first quarter. Even with tough times and high interest rates, most parts of the country are seeing strong growth, says CEO Henning Lauridsen of Eiendom Norge.
Eiendom Norge today presents house price statistics for the first quarter of 2023 in seven regional reports. Viken w/Oslo, Innlandet, Vestfold and Telemark, Agder and Rogaland, Western Norway, Central Norway and Northern Norway respectively.
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The regional reports provide an overview of house price trends in major city districts as well as in many Norwegian municipalities.
– The strongest growth in Norway in the first quarter was in Sunnfjord in Vestland (+5,3 percent), Lindesnes (+5,1 percent) and Stavanger Vest (+5,0 percent). Other strong areas include the Nordre Aker district in Oslo (+4,7 percent), the Frogner district in Oslo (+4,6 percent), Stavanger Nord (+4,6 percent) and Haugesund and Karmøy (+4,6 percent). Vestby in Viken and Midt-Telemark and Nome recorded the weakest growth with an increase of 0,1 percent, says Lauridsen
“The strongest growth in the last four quarters was in Lindesnes with a 10,1 percent increase. Next comes Arendal with an increase of 8,8 percent and Grimstad and Lillesand with an increase of 7,3 percent. Hamar had the weakest growth with a decline of 4,7 percent, he says.
Strongest growth in southern and western Norway
“House prices tend to go up in the first quarter, and that's been the case this year as well. Southern and Western Norway continue to stand out as the strongest growth areas in the country. The strong development on a national scale is explained by the fact that the Norwegian economy is doing better than expected at the turn of the year, coupled with the easing of credit regulations that came into force at the turn of the year.
Homes also sold well nationally in the first three months of the year. Most recently in the record year of 2021, more homes were sold in the first quarter, concludes Lauridsen.
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Source: Eiendom Norge
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