Home economics

3000 more for the square meter

Housing prices are approaching the top level again. But in some places prices increase extra fast.

3000 more for the square meter

Prices from the month of August 2007 are back, showing the freshest housing statistics, published this week.

The increase is 6.8 per cent from September 2008 to September 2009, showing the statistics prepared by Econ Pöyry for Norway’s Real Estate Brokerage Association (NEF), the Real Estate Broker’s Association (EFF) and the website finn.no.

For apartments, prices have risen by 7.8 per cent, while the change is slightly less for single-family homes (4.3 per cent) and shared homes as townhouses and semi-detached houses (5.2).

The last month is the price increase of just under 0.1 percent. During this period, single deposits have increased the most (0.4 per cent). Shared homes have actually fallen in price (-0.7 percent) last month.

Nearly three more patches

The statistics apply to housing advertised on Finn.no, which involves between one third and half of all homes that are traded in Norway in a year.

Compared with the months of November and December 2008, the rise in prices is significant. The average price per square meter was then NOK 22,100, while in September 2009 it was NOK 24,800.

In other words, you get $ 2700 more for the square meter. It can be quite a bit when you get up.

For example, if you are in a 100 m2 apartment, you will receive 270,000 more for it now than just nine months ago. And in some places the price increase is much higher.

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Bergen increases the most

How long should you spend on selling your home?

It depends on where you live, but it’s not fastest in the most expensive city.

In Bergen, the “turnover rate” has increased sharply. While it took 36 days to sell a house in Bergen a year ago, it only takes 19 days now.

In Oslo it takes 22 days, versus 25 at the same time last year, while in Trondheim it is clearer now (28 to 35).

If you live in Tromsø, you must expect that it takes about two and a half months to sell your home.

Powerful Obos Growth

If you have an apartment as an Obos member, give the year so good reason to smile. Obos prices have risen by 21 per cent so far this year, according to a press release.

– The price increase is somewhat stronger than expected, and this is due to more factors. First, we see that optimism is back in the housing market, interest rates are still low, and there are fewer homes out in the market. All this contributes to pushing prices up, “says Martin Mæland, CEO of Obos.

There are also fewer new homes than in previous years, and it helps to push prices up, says Mæland

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Most expensive and cheapest

The most expensive apartments in the country are still found at Frogner in Oslo (46,000 per square meter), according to the housing statistics mentioned.

In Sarpsborg, just an hour away, the square meter has an average price of 17,000, while Telemark is the cheapest in the country with 14,200 per square meter.

And where do prices increase faster? Yes, just in Telemark, which has grown 11 percent more expensive in the last year. Nest most increases Møre og Romsdal by 8 percent.

If you want to dig yourself further, you can look at the finn.no-based statistics here.

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