283776
/en/priser-og-prisindekser/statistikker/kvadenebol/aar
283776
Extensive regional variations between new and second-hand house prices
statistikk
2017-03-28T08:00:00.000Z
Prices and price indices;Construction, housing and property
en
kvadenebol, Prices per square metre of detached houses, price development, house prices, new detached houses, second-hand detached housesDwelling and housing conditions , House prices and house price indices , Construction, housing and property, Prices and price indices
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In 2016, the average price of second-hand detached houses was 69.6 per cent of the price of new detached houses.

Prices per square metre of detached houses

Updated

Next update

Key figures

69.6 %

price of existing detached houses in per cent of new ones

Prices per square meter for detached houses
Price per square meter (NOK)Percentage change from previous yearPrice ratio of used detached houses in per cent of news ones
New detached housesUsed detached housesNew detached housesUsed detached houses
201228 41519 9769.55.070.3
201329 42320 7803.54.070.6
201430 90421 1385.01.768.4
201531 90622 0683.24.469.2
201633 58423 3685.35.969.6

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Table 1 
Prices per square meter for detached houses, by county. Price ratio

Prices per square meter for detached houses, by county. Price ratio
New detached housesUsed detached housesNumber of new detached housesPrice ratio of used detached houses in per cent of new ones
Price per square meter (NOK)Percentage change from previous yearPrice per square meter (NOK)Percentage change from previous year2015201620152016
2015201620152016
The whole country31 90633 5845.322 06823 3685.93 3473 42169.269.6
Østfold28 44731 1599.519 43621 1498.820521568.367.9
Akershus38 93140 5234.129 51932 46110.036743275.880.1
Oslo54 56758 2356.746 75351 94111.110416185.789.2
Hedmark29 05828 992-0.215 45516 7028.112211053.257.6
Oppland27 83929 3765.515 71716 8177.011612556.557.2
Buskerud32 22733 5444.121 69223 2207.019219667.369.2
Vestfold32 56534 7026.621 74722 9545.618616566.866.1
Telemark27 24428 5204.715 57616 7567.6958857.258.8
Aust-Agder27 93027 666-0.917 81318 5814.312611763.867.2
Vest-Agder28 28529 2693.519 49419 7381.315616168.967.4
Rogaland34 00132 703-3.823 71023 098-2.646037769.770.6
Hordaland30 76732 2164.725 38825 6751.136838482.579.7
Sogn og Fjordane26 04227 6946.315 61517 0028.9818760.061.4
Møre og Romsdal29 30529 7291.417 06317 2731.222420558.258.1
Sør-Trøndelag29 27131 5687.823 84224 8064.018023581.578.6
Nord-Trøndelag27 15828 4034.614 81416 0598.411111054.556.5
Nordland30 04930 8732.717 60718 4154.612513158.659.6
Troms - Romsa30 46934 02611.722 10824 63611.4938172.672.4
Finnmark - Finnmárku26 32627 8605.817 64319 0478.0364167.068.4
 
Stavanger47 63444 839-5.932 38030 732-5.1635368.068.5
Bergen38 11640 4276.132 87432 619-0.8656686.280.7
Trondheim36 31841 14313.330 93932 9116.4508285.280.0

About the statistics

The statistics show the difference in square meter prices for new and existing detached houses. The average square meter prices are calculated by dividing the sales price, included the site value, by useful floor space.

Definitions

Definitions of the main concepts and variables

The price: What the investor or purchaser has to pay for a used or new detached house, including site value, but excluding other costs such as connection to road, water and sewer services, duties and administrative fees, and interest on building loans. VAT is included in the price.

Useful floor space: The floor area measured within the outer walls, excluding cellars, non-habitable attics and, in multi-dwelling houses, common spaces. Precise definition can be found in Norwegian Standard NS 3940 Area and volume calculations of buildings.

Utility floor space: The floor area measured within the outer walls, defined in Norwegian Standard NS 3940 Area and volume calculations of buildings.

Price per square meter: Calculated by dividing the price by the useful floor space.

Standard classifications

Counties: Prices per square meter are calculated for each of the 19 counties.

Cities: Prices per square meter are also calculated for the three most populous municipalities outside Oslo: Stavanger, Bergen and Trondheim.

Administrative information

Name and topic

Name: Prices per square metre of detached houses
Topic: Prices and price indices

Next release

Responsible division

Division for Construction and Service

Regional level

County, and the municipalities of Stavanger, Bergen and Trondheim.

Frequency and timeliness

Annually. Figures are published 13 weeks after the end of the reference period.

International reporting

Not relevant

Microdata

Data at the dwelling level are stored as text files on UNIX.

Background

Background and purpose

The purpose of the statistics are to show the price differences between used and new detached houses. The statistics has been published since 1999.

Users and applications

The statistics is directed toward users with an interest in the housing market, including private persons, different research institutions and the media.

Equal treatment of users

Principles for equal treatment

No external users have access to the statistics and analyses before they are published and accessible simultaneously for all users on ssb.no at 10 am. Prior to this, a minimum of three months' advance notice is given inthe Statistics Release Calendar.

 

Coherence with other statistics

The data used in these statistics are the same as those used in the production of the house price index and the price index for new detached houses . Information from detached houses completed in the Building statistics is used.

Legal authority

The Statistics Act § 2-1, § 2-2 and § 3-2.

EEA reference

Not relevant

Production

Population

Used detached houses: All detached houses sold on the open market during the year in question.

New detached houses: All detached houses completed during the year in question.

Data sources and sampling

Used detached houses: Statistics Norway receives data from FINN.no, through cooperation with the Association of Real Estate Norway. Real Estate Norway represents more than 400 real estate agencies in Norway.  The sample is all detached houses sold through FINN.no

New detached houses: The data for computing the price index are obtained from two different sources: the Norwegian cadastre and a quarterly survey. The cadastre provides information on dwellings completed during the reference period; location, utility floor space and who the owner is. Through the survey Statistics Norway collect information about prices and quality characteristics that may have an influence on the price. This is a complete census.

Collection of data, editing and estimations

Used detached houses: Data from Finn.no are delivered monthly.

New detached houses: A questionnaire is distributed quarterly to all investors (final owners) of new detached houses.

The form-based survey is scanned optically. Mathematical and logical controls are incorporated in the data entry procedure. Machine control eliminates houses with very high or low square metre prices or areas.

Average prices per square meter for used and new detached houses are calculated. The price is calculated using the useful floor space.

Seasonal adjustment

Not relevant

Confidentiality

Not relevant

Comparability over time and space

Used detached houses

Ending the 4th quarter of 2001, data for used freeholder dwellings were collected in a similar way as the data that are used for new detached houses. Forms were distributed to purchasers of freeholder dwellings, and prices per square meter were calculated using all sales where the sales contract was signed during the quarter in question. Information from the forms was combined with information from the former cadastre, the GAB-register.

Until the 4th quarter of 2001 we used the utility floor space in the calculation of square meter prices. Now we use the useful floor space for this purpose. As a result, prices before and after 2002 are not comparable.

New detached houses

Useful floor space is no longer included on the form. Until 2001, however, both useful floor space and utility floor space was included. As a result we have chosen to use this information to calculate a factor, which can be used to estimate the useful floor space. The factor is 0.7999, which means that, on average, useful floor space is slightly less than 80 per cent of the utility floor space.

Accuracy and reliability

Sources of error and uncertainty

Used detached houses: Errors can occur during the data registering and processing done by the data suppliers. Machine controls ensure, however, that dwellings with particularly small or large useful floor spaces or very high or low square metre prices are not included in the calculation of square meter prices.

New detached houses: It may happen that the respondent misunderstands one or more of the questions on the form. The forms are read optically with automatic verification and transfer to electronic storage. Errors can occur during the optical scanning, particularly when reading figures consisting of many digits. Machine controls ensure, however, correspondence between partial costs and total costs, and that detached houses with very high or low square metre prices are not included in the calculation of square meter prices.

Used detached houses

None.

New detached houses

Non-response will always be a factor in form-based surveys, such as this. This is due to respondents that either do not return the forms or return them filled out incompletely. Response rate at the expiration of the deadline is about 45 per cent. Following reminders it climbs to 75 per cent. Data from the form are used as long as key variables are given.

Used detached houses

The statistics are based on data from FINN.no, and cover a majority of all used dwellings sold in Norway. Nonetheless it is possible that there is systematic sample skewness with regard to geography and/or building types.

New detached houses

The population is all detached houses completed during the year. The numbers have no sample variance or sample skewness.

Local authorities have the responsibility for updating the cadastre. The registering can be insufficient and of bad quality. Buildings may be incorrectly classified, i.e. that a detached house has been given another type of building classification in the register. It is also possible that other types of buildings are incorrectly classified as detached houses. The respondent will usually give notice in these cases. Furthermore, due to registration delays in the cadastre, not all detached houses registered as completed during the quarter in question will actually be completed during the quarter. Detached houses that are not actually completed during the quarter in question or previous quarter are not included.

Revision

Not relevant

Contact

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