House Prices Increase in Norway in the First Quarter

The prices of flats in blocks increased by 3.1 per cent. The corresponding increase in prices for small houses and detached houses was 2.2 and 1.0 per cent respectively.

The house prices in Akershus and Oslo had the highest increase, with 3.4 and 3.1 per cent, while Trøndelag excluding Trondheim, Agder and Rogaland and Stavanger were the regions with a decrease in house prices in this period, of between 1.5 and 0.3 per cent.

Figure 1. House price index, by house type. 1992=100

Strongest growth in Oslo last year

The house prices in Oslo and Bærum had the highest increase from the first quarter of 2014, with 11.9 per cent. The prices of detached houses and flats in blocks increased by 10.0 and 114.3 per cent respectively, while small houses had a price increase of 8.4 per cent. The house prices in Agder and Rogaland and Stavanger had the lowest increase by 1.9 and 2.0 per cent respectively during the last year.

House prices increased on average by 7.2 per cent.

A total of 21 189 house sales were used in the index calculations for the 1st quarter of 2015.



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