The Norwegian Housing Market. July Eiendomsverdi

Transcription

1 The Norwegian Housing Market July 2018 Eiendomsverdi

2 Executive summary - Nominally no change in price level, seasonally adjusted up 0.4 percent - 12 month growth rate now at 2.2 percent - Higher volumes (10 percent) than July 2017, but on average with 2013 and Time on market still high - Sell/ask spread nationwide negative for the first time since January - Oslo strongest of the major cities with 1.9 percent growth. 12 month growth rate now at 4.9 percent - The number of building permits continues to fall nationally

3 The Norwegian Housing Price Statistics Index

4 Nominal Price Change - Norway

5 12 month growth rate - Norway

6 New listings - Norway

7 Volumes - Norway

8 Unsold - Norway

9 Time on market - Norway

10 Age of inventory (unsold stock) - Norway

11 Sell/ask spread Norway (-0.3 percent)

12 Price developments - comparable countries Source: S&P Case-Shiller Home Price Indices Composite 20, Realkredittrådet, Hometrack, Calcasa, SCB, Eiendomsverdi

13 Regions

14 Housing prices for regions Price change June 12 month 5 years (m/m) Price change since all time high Viken m/oslo 1,0 % 4,5 % 42,0 % -1,0 % Innlandet -0,7 % 4,0 % 34,0 % -1,3 % Vestfold og Telemark -0,6 % 4,0 % 26,0 % -1,4 % Agder og Rogaland -1,5 % -2,5 % 16,5 % -4,6 % Vestlandet 0,8 % 1,0 % 26,0 % -1,0 % Midt-Norge -1,6 % -1,8 % 15,8 % -2,6 % Nord-Norge -1,4 % -0,7 % 27,0 % -2,3 % Norge 0,0 % 2,2 % 28,3 % -1,0 %

15 Price developments - regions

16 Largest cities

17 Price developments - cities

18 Price developments - cities

19 Oslo - Nominal prices up 1.9 percent. On par with the average for July for the last five years (2.3 percent), and far above the other major cities - 12-month growth rate now at 3.9 percent - New listings 23 percent lower than last year, but still above earlier years - Volumes slightly below last year - Time on market 36 days, the highest July level in the last five years

20 Price development w/average 5 previous years (2.3%)

21 New listings - Oslo

22 Volumes - Oslo

23 Unsold - Oslo

24 Time on Market - Oslo

25 Age of Inventory - Oslo

26 Sell/ask spread Oslo (2.2 percent)

27 Bergen - Nominal prices up 0.8 percent, below July average (1.3 percent) - New listings and volumes on par with previous years - Sell ask spread still positive (1.1 percent)

28 Price development w/average 5 previous years (1.3%)

29 New listings - Bergen

30 Volumes - Bergen

31 Unsold - Bergen

32 Time on Market - Bergen

33 Age of inventory - Bergen

34 Sell/ask spread Bergen (1.1 percent)

35 Trondheim - Nominal prices down 1.7 percent, lower than the July average (-0.9 percent) - Volumes higher than new listings. This together reduces the number of unsold, but the level is still high compared to previous years

36 Price development w/average 5 previous years (-0.9%)

37 New listings - Trondheim

38 Volumes - Trondheim

39 Unsold - Trondheim

40 Time on Market - Trondheim

41 Age of inventory - Trondheim

42 Sell/ask spread Trondheim (0.2 percent)

43 Stavanger area - Nominal prices down 1.6 percent, slightly lower than previous years (-1.5 percent average) - As in Trondheim, high volumes and new listings stable. This together leads to reduced number of unsold - Sell ask spread falls to -3.1 percent

44 Price development w/average 5 previous years (-1.5%)

45 New listings Stavanger area

46 Volumes Stavanger area

47 Unsold Stavanger area

48 Time on Market Stavanger area

49 Age of inventory Stavanger area

50 Sell/ask spread Stavanger area (-3.1 percent)

51 Kristiansand - Nominal prices down 1.4 percent, on par with the June average - Low number of new listings and high volumes - Sell/ask spread falls for the third month in a row, now at -1.9 percent

52 Price development w/average 5 previous years (-1.4%)

53 New listings - Kristiansand

54 Volumes - Kristiansand

55 Unsold - Kristiansand

56 Time on Market - Kristiansand

57 Age of inventory - Kristiansand

58 Sell/ask spread Kristiansand (-1.9 percent)

59 Tromsø - Nominal prices down 1.5 percent - High level of new listings - July also showed a sudden spike in sell ask spread (1.5 percent)

60 Price development w/average 5 previous years (-0.6%)

61 New listings - Tromsø

62 Volumes - Tromsø

63 Unsold - Tromsø

64 Time on Market - Tromsø

65 Age of inventory - Tromsø

66 Sell/ask spread Tromsø (1.5 percent)

67 New dwellings

68 New dwellings building permits and completions - Norway Source: Statistics Norway Kilde: SSB

69 New dwellings under construction Source: Statistics Norway Kilde: SSB

70 Eiendomsverdi AVM validation

71 Eiendomsverdi s estimates - last updated June ,0 % 3,0 % 2,0 % 1,0 % 0,0 % -1,0 % -2,0 % -3,0 % -4,0 % -5,0 %

72 Contact information Eiendomsverdi AS Tel: Dag Martin Sundelius Andreas Jensen Anders Lund Audun Houmb Sjøli