Statistics Norway (SSB) Expects Lower House Price

House prices are now at the highest levels ever, writes NRK. Over the past 12 months, prices have risen by 7.7 per cent in total all over Norway. However, this trend will not continue. Statistics Norway (SSB) expects house prices will fall in the following months and 2016.

Increased unemployment and increasing pessimism

Unemployment continues to rise in the coming period, and may increase up to 4.6 percent in 2016. Real wage growth next year is expected to be zero. SSB believes negative expectations concerning individual finance and the country’s economy will probably stop housing prices to increase.

– It will also contribute to decrease in prices, says researcher Torbjørn Eika to NRK.

Oak also adds that the expectations of the Norwegian economy in the future is “moderate poor” and that the Norwegian economy will grow less than expected in the upcoming quarters.

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