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28572
House prices up 1.1 per cent
statistikk
2004-01-26T10:00:00.000Z
Prices and price indices;Construction, housing and property
en
bpi, Price index for existing dwellings, price development, house prices, detached houses, town houses, blocks of flats, housing cooperatives, homeowner, price per square metre, house salesDwelling and housing conditions , House prices and house price indices , Construction, housing and property, Prices and price indices
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Price index for existing dwellings, Q4 2003

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House prices up 1.1 per cent

House prices increased by 1.1 per cent from the third to the fourth quarter of 2003. Prices of cooperative and freeholder dwellings increased by 3.6 and 0.8 per cent respectively.

The last quarter, prices increased the most in Stavanger, Bergen and Trondheim, by 2.7 per cent. In comparison, prices increased by 1.6 per cent in Oslo and Bærum.

Prices of flats up 4.1 per cent in Oslo and Bærum

Prices of flats increased by 3.6 per cent on average, from the third to the fourth quarter of 2003. Flat prices increased the most in Oslo and Bærum, by 4.1 per cent. In the rest of Akershus and Stavanger, Bergen and Trondheim, flat prices increased by 1.0 and 3.2 per cent from the third to the fourth quarter of 2003. In the rest of the country, prices of flats increased by 3.5 per cent during the same period of time.

Prices up 8.2 per cent in Stavanger, Bergen and Trondheim

From the fourth quarter of 2002 to the fourth quarter of 2003, house prices increased by 4.1 per cent. Freeholder dwellings increased by 3.7 per cent, while cooperative dwellings increased by 6.6 per cent. Prices increased the most in Stavanger, Bergen and Trondheim, by 8.2 per cent. Prices of flats and detached houses increased by 9.0 and 8.8 per cent respectively in this price zone, during the last year.

In Oslo and Bærum, prices increased by 3.4 per cent on average from the fourth quarter of 2002 to the fourth quarter of 2003. In Akershus exclusive Bærum and the rest of the country, prices increased by 2.7 and 3.8 per cent respectively, during the last year.

A total of 11 711 sales are used in the calculation of the price index.

New methods of data collection

Until now, data for the index has been collected directly from all purchasers of used dwellings. The collected information was combined with data from a central register. The new house price index is based on data from FINN.no (freeholder) through cooperation with the Norwegian Association of Real Estate Agents (NEF) and the Association of Real Estate Undertakings (EFF). The Norwegian Federation of Cooperative Housing Associations (NBBL) provides data for cooperative housing. In doing this, the index can be published earlier. Moreover, a higher number of sales will be included in the calculation of the index. In addition to separate tables for freeholder and cooperative housing, a table that encompass both types of ownership, is included. We have calculated numbers back to the first quarter of 2002, using the new method.

Weighing of the index

Until the fourth quarter of 2001, the price indices for used dwellings were weighed, using the number of dwellings of each type in each of the geographical zones. Beginning the first quarter of 2002, the indices are weighed using the estimated total value of the housing stock, within each combination of house type and price zone. The estimates are calculated by multiplying the average prices with the number of houses in these zones.

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