House prices up 1.7 per cent
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Updated:
Prices for existing dwellings were increasing in all regions at the start of 2017. The growth is still highest in the Oslo area, according to seasonally-adjusted figures.
- Series archive
- Price index for existing dwellings (archive)
Figures for the 1st quarter of 2017, for South Eastern Norway and the whole country, were revised 4th May 2017.
While prices of flats in blocks increased by 2.3 per cent in the first quarter of 2017, small houses and detached houses saw a price rise of 1.6 per cent, adjusted for seasonal variations.
House prices had the strongest increase in Akershus and Oslo, by 3.8 and 3.0 per cent respectively. Among the cities, Bergen had the weakest rise in prices, by 0.2 per cent. House prices in the northernmost counties were almost unchanged in this period.1
Figure 1. Price for existing dwellings by house type. 1st quarter 1992 = 100
| Detached houses | Row houses | Multidwelling houses | |
| Q1-1992 | 100.0 | 100.0 | 100.0 |
| Q2-1992 | 100.9 | 100.9 | 101.4 |
| Q3-1992 | 101.8 | 101.3 | 102.0 |
| Q4-1992 | 99.8 | 95.2 | 99.2 |
| Q1-1993 | 95.0 | 93.2 | 95.3 |
| Q2-1993 | 100.7 | 98.2 | 99.7 |
| Q3-1993 | 104.4 | 101.8 | 104.7 |
| Q4-1993 | 105.7 | 105.0 | 112.3 |
| Q1-1994 | 107.4 | 107.7 | 117.6 |
| Q2-1994 | 109.6 | 114.3 | 122.3 |
| Q3-1994 | 114.7 | 119.1 | 124.6 |
| Q4-1994 | 116.2 | 118.2 | 122.1 |
| Q1-1995 | 116.8 | 118.4 | 122.1 |
| Q2-1995 | 121.7 | 123.2 | 126.5 |
| Q3-1995 | 123.8 | 124.3 | 129.3 |
| Q4-1995 | 122.7 | 127.6 | 131.0 |
| Q1-1996 | 124.3 | 127.6 | 135.2 |
| Q2-1996 | 129.8 | 134.0 | 143.9 |
| Q3-1996 | 133.0 | 136.6 | 146.4 |
| Q4-1996 | 135.0 | 138.4 | 153.9 |
| Q1-1997 | 133.9 | 142.8 | 161.7 |
| Q2-1997 | 144.2 | 152.6 | 171.5 |
| Q3-1997 | 145.3 | 153.9 | 171.8 |
| Q4-1997 | 145.7 | 154.4 | 177.1 |
| Q1-1998 | 146.6 | 166.7 | 192.5 |
| Q2-1998 | 156.7 | 175.0 | 203.6 |
| Q3-1998 | 156.4 | 171.5 | 201.4 |
| Q4-1998 | 151.7 | 167.5 | 195.3 |
| Q1-1999 | 155.6 | 174.3 | 209.2 |
| Q2-1999 | 166.5 | 188.4 | 228.8 |
| Q3-1999 | 166.5 | 192.5 | 239.9 |
| Q4-1999 | 170.5 | 202.2 | 248.9 |
| Q1-2000 | 175.5 | 210.7 | 277.7 |
| Q2-2000 | 189.9 | 227.4 | 286.6 |
| Q3-2000 | 184.3 | 219.1 | 280.4 |
| Q4-2000 | 186.9 | 220.0 | 272.6 |
| Q1-2001 | 190.1 | 225.9 | 293.0 |
| Q2-2001 | 200.9 | 236.4 | 301.1 |
| Q3-2001 | 199.8 | 235.3 | 305.3 |
| Q4-2001 | 197.8 | 234.0 | 305.9 |
| Q1-2002 | 201.8 | 242.3 | 322.3 |
| Q2-2002 | 210.7 | 248.9 | 329.6 |
| Q3-2002 | 199.6 | 247.6 | 328.8 |
| Q4-2002 | 199.4 | 244.1 | 323.2 |
| Q1-2003 | 205.3 | 246.9 | 328.2 |
| Q2-2003 | 207.7 | 249.3 | 323.5 |
| Q3-2003 | 205.3 | 250.2 | 333.2 |
| Q4-2003 | 206.1 | 254.8 | 345.3 |
| Q1-2004 | 224.5 | 266.9 | 362.3 |
| Q2-2004 | 227.3 | 275.0 | 365.4 |
| Q3-2004 | 225.8 | 278.5 | 375.1 |
| Q4-2004 | 227.1 | 282.2 | 383.2 |
| Q1-2005 | 236.6 | 295.4 | 396.0 |
| Q2-2005 | 245.9 | 301.6 | 397.6 |
| Q3-2005 | 246.3 | 304.0 | 409.3 |
| Q4-2005 | 244.6 | 307.8 | 414.4 |
| Q1-2006 | 259.5 | 327.0 | 440.0 |
| Q2-2006 | 273.4 | 342.9 | 457.4 |
| Q3-2006 | 279.4 | 353.8 | 486.2 |
| Q4-2006 | 282.1 | 358.2 | 495.2 |
| Q1-2007 | 299.9 | 385.1 | 519.5 |
| Q2-2007 | 316.1 | 395.5 | 523.4 |
| Q3-2007 | 314.5 | 397.2 | 524.4 |
| Q4-2007 | 309.2 | 389.5 | 502.4 |
| Q1-2008 | 318.1 | 400.8 | 505.6 |
| Q2-2008 | 325.9 | 397.7 | 505.7 |
| Q3-2008 | 313.5 | 384.5 | 493.8 |
| Q4-2008 | 292.7 | 357.2 | 454.5 |
| Q1-2009 | 302.5 | 373.0 | 482.3 |
| Q2-2009 | 319.8 | 389.5 | 506.2 |
| Q3-2009 | 322.2 | 399.2 | 526.0 |
| Q4-2009 | 321.2 | 401.9 | 527.2 |
| Q1-2010 | 333.9 | 416.7 | 535.3 |
| Q2-2010 | 349.2 | 428.8 | 547.1 |
| Q3-2010 | 343.2 | 432.4 | 554.3 |
| Q4-2010 | 341.9 | 433.0 | 556.0 |
| Q1-2011 | 359.0 | 454.5 | 587.5 |
| Q2-2011 | 371.9 | 462.1 | 598.8 |
| Q3-2011 | 369.2 | 465.7 | 614.6 |
| Q4-2011 | 366.3 | 465.4 | 616.6 |
| Q1-2012 | 378.4 | 483.5 | 637.6 |
| Q2-2012 | 393.3 | 493.8 | 653.4 |
| Q3-2012 | 392.8 | 496.5 | 672.0 |
| Q4-2012 | 387.9 | 497.1 | 670.0 |
| Q1-2013 | 399.6 | 514.9 | 689.8 |
| Q2-2013 | 415.2 | 520.4 | 697.9 |
| Q3-2013 | 404.7 | 513.7 | 691.8 |
| Q4-2013 | 393.5 | 505.9 | 664.3 |
| Q1-2014 | 403.0 | 517.7 | 680.5 |
| Q2-2014 | 422.2 | 525.5 | 704.7 |
| Q3-2014 | 419.8 | 528.2 | 715.7 |
| Q4-2014 | 415.7 | 524.6 | 720.5 |
| Q1-2015 | 427.1 | 548.8 | 757.3 |
| Q2-2015 | 444.4 | 562.7 | 772.7 |
| Q3-2015 | 441.0 | 558.5 | 779.5 |
| Q4-2015 | 429.1 | 552.7 | 772.7 |
| Q1-2016 | 444.9 | 573.9 | 803.0 |
| Q2-2016 | 463.6 | 593.2 | 837.8 |
| Q3-2016 | 465.6 | 608.9 | 878.2 |
| Q4-2016 | 461.7 | 607.4 | 895.6 |
| Q1-2017 | 478.3 | 631.1 | 932.3 |
Strong annual growth continues in the Oslo region
Compared to the same quarter last year, the strongest price increase for existing dwellings was in Oslo and Bærum: 21.0 per cent. Akershus follows with a growth rate of 16.0 per cent. The weakest price growth was on the west coast; Vestlandet excluding Bergen, by 1.8 per cent.
Figure 2. Price for existing dwellings. Change compared with the same quarter of the previous year
| Oslo and Bærum | Stavanger | Bergen | Trondheim | |
| Q1-2006 | 10.4 | 17.7 | 14.5 | 9.7 |
| Q2-2006 | 14.5 | 23.2 | 15.8 | 11.4 |
| Q3-2006 | 17.7 | 29.1 | 18.1 | 11.5 |
| Q4-2006 | 18.4 | 30.5 | 21.7 | 12.4 |
| Q1-2007 | 19.0 | 29.1 | 17.5 | 10.6 |
| Q2-2007 | 14.8 | 21.6 | 13.0 | 9.1 |
| Q3-2007 | 8.8 | 17.8 | 5.3 | 7.0 |
| Q4-2007 | 3.3 | 12.6 | -0.1 | 1.9 |
| Q1-2008 | -1.6 | 6.6 | -5.5 | -1.3 |
| Q2-2008 | -2.3 | 5.7 | -5.0 | -0.2 |
| Q3-2008 | -4.8 | -1.4 | -9.9 | -4.7 |
| Q4-2008 | -9.1 | -7.0 | -12.5 | -6.9 |
| Q1-2009 | -6.5 | -7.8 | -9.7 | -4.4 |
| Q2-2009 | -0.6 | -5.2 | -5.1 | -3.1 |
| Q3-2009 | 6.6 | 3.3 | 6.5 | 3.9 |
| Q4-2009 | 15.2 | 15.2 | 13.9 | 13.9 |
| Q1-2010 | 12.7 | 18.2 | 13.8 | 14.5 |
| Q2-2010 | 8.9 | 16.8 | 14.6 | 11.6 |
| Q3-2010 | 6.1 | 14.1 | 9.3 | 12.5 |
| Q4-2010 | 6.7 | 9.5 | 9.0 | 9.1 |
| Q1-2011 | 10.9 | 10.4 | 12.2 | 9.2 |
| Q2-2011 | 9.7 | 9.6 | 7.4 | 12.4 |
| Q3-2011 | 9.7 | 9.2 | 8.8 | 10.0 |
| Q4-2011 | 9.4 | 9.0 | 10.9 | 12.4 |
| Q1-2012 | 7.0 | 5.6 | 7.9 | 8.0 |
| Q2-2012 | 8.1 | 7.8 | 5.8 | 8.5 |
| Q3-2012 | 9.1 | 9.6 | 6.5 | 9.2 |
| Q4-2012 | 8.3 | 7.2 | 5.3 | 7.9 |
| Q1-2013 | 7.9 | 7.4 | 4.6 | 11.5 |
| Q2-2013 | 5.3 | 4.5 | 9.8 | 6.3 |
| Q3-2013 | 0.7 | -0.3 | 6.4 | 5.0 |
| Q4-2013 | -1.2 | -1.8 | 1.3 | 1.0 |
| Q1-2014 | -2.4 | -5.5 | 2.8 | -1.1 |
| Q2-2014 | 1.1 | -1.9 | 1.0 | 4.2 |
| Q3-2014 | 4.5 | -0.9 | 4.9 | 2.5 |
| Q4-2014 | 8.3 | 1.0 | 9.1 | 7.4 |
| Q1-2015 | 11.9 | 2.0 | 8.5 | 6.5 |
| Q2-2015 | 10.0 | -3.7 | 10.1 | 5.7 |
| Q3-2015 | 10.3 | -5.3 | 7.4 | 7.1 |
| Q4-2015 | 9.2 | -8.1 | 4.5 | 3.5 |
| Q1-2016 | 9.4 | -10.2 | 1.0 | 6.5 |
| Q2-2016 | 12.7 | -7.8 | -0.3 | 4.7 |
| Q3-2016 | 17.9 | -5.4 | -0.3 | 7.4 |
| Q4-2016 | 21.7 | 0.4 | 3.2 | 9.1 |
| Q1-2017 | 21.1 | 5.4 | 4.5 | 7.4 |
Flats in blocks had strongest price rise
Of all the dwelling types, flats in blocks had the highest price increase: 16.1 per cent compared to the same quarter last year. In Oslo and Bærum, the prices increased by 23.0 per cent. In the rest of Akershus, prices of flats in blocks increased by 19.3 per cent.1
Small houses and detached houses have increased by 10.0 and 7.4 per cent respectively since the first quarter of 2016.1
1 Correction in text.
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Inger Jorun Monsrud
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Statistics Norway's Information Centre