Increase in sales of dwellings

Published:

The number of dwellings sold on the free market increased by 6 per cent from the first quarter of 2016 to the first quarter of 2017. Despite this growth, the transfer level is still significantly lower than in the corresponding quarter of 2016.

A total of 42 000 transfers of real property were registered in the first quarter of 2017; an increase of 7 per cent compared with the first quarter of 2016. The aggregated value of the transferred properties amounted to NOK 90 billion; an increase of 14 per cent compared with the same quarter of 2016.

Figure 1. Registered transfers of real property. 1st quarter

Number of transfers Registered amount in NOK million
2006 40043 49149
2007 41105 55464
2008 39406 61140
2009 34211 43812
2010 37384 52811
2011 38036 58128
2012 40468 69982
2013 40435 75367
2014 40339 71771
2015 43011 85471
2016 39324 78622
2017* 41965 89945

Increased sales of dwellings

In total, 16 900 dwellings were sold on the free market in the first quarter of 2017; an increase of 6 per cent compared with the same quarter in 2016. In the first quarter of 2016, there was a strong decline in Oslo, Akershus and Rogaland. In the first quarter of 2017, the number of transfers increased in all of these counties.

The highest average price per dwelling transfer in the first quarter of 2017 was recorded in Oslo at NOK 7.1 million.

Figure 2. Average purchase price per transfer of built-up dwelling and holiday properties on owned site sold on the free market

Dwelling Holiday
Q1 2009 2259 1388
2283 1444
2279 1288
2421 1348
Q1 2010 2446 1406
2458 1438
2456 1304
2443 1272
Q1 2011 2533 1345
2604 1515
2652 1400
2690 1309
Q1 2012 2785 1358
2832 1504
2883 1329
2871 1353
Q1 2013 3024 1482
3075 1455
3082 1377
3020 1368
Q1 2014 3090 1578
3089 1592
3154 1504
3205 1542
Q1 2015 3287 1649
3303 1660
3271 1591
3272 1499
1. kv. 2016 3346 1634
3391 1701
3380 1437
3573 1681
1. kv. 2017* 3707 1673

Figure 3. Number of dwellings sold on the free market by type of dwelling. 1st quarter

Detached houses House with 2 dwelling units Row Houses Multidwelling Other building Unkknown
2008K1 6640 1417 1569 5152 1129 213
2009K1 5248 1035 1112 4161 871 206
2010K1 6232 1194 1174 4927 900 264
2011K1 6378 1203 1221 5181 984 247
2012K1 7126 1392 1537 5884 1002 253
2013K1 6571 1342 1433 6863 980 223
2014K1 6448 1419 1367 5937 999 208
2015K1 7254 1563 1514 7260 1069 237
2016K1 6620 1471 1306 5301 1000 201
2017K1* 6913 1445 1369 6027 957 181

8 000 dwellings owned through a housing cooperative transferred

From the first quarter of 2017, figures on registered transfers of properties owned through a housing cooperative are included in the property transfer statistics. In total, 8 000 properties owned through a housing cooperative were transferred in the first quarter of 2017; 5 900 of which were sold on the free market. The average purchase price per transfer including share of common debt in the housing cooperative was NOK 2.8 million.

Not price statistics

The statistics are based on the number and the value of the registered transfers of real property. The composition of sold properties varies over time in terms of size, standard and location. Due to this, the change in average price per transfer from one year to another does not reflect the correct price trend for a certain type of property. For instance, a large number of high-standard holiday homes have been built in recent years. Therefore, the average purchase price per transferred holiday home has increased more than the price of one single holiday home. For the development of the prices for existing dwellings in Norway, see the House price index.

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