House price index, second hand dwellings, Q3 2002, final figures

The final figures from Statistics Norway show that Stavanger, Bergen and Trondheim was the only price zone with an increase in house prices from the second to the third quarter of 2002. In this region prices increased by 2.3 per cent. In Oslo and Bærum prices decreased by 0.6 per cent during the corresponding period. In Akershus - exclusive Bærum - and the rest of the country, prices decreased by 2.8 and 1.3 per cent respectively.

Detached houses decreased the most

Prices of detached houses decreased by 1.5 per cent on average, from the second to the third quarter of 2002. There are, however, geographical differences. In Oslo and Bærum, Stavanger, Bergen and Trondheim, prices of detached houses increased by 2.5 and 1.7 per cent respectively. Prices of row houses decreased by 0.3 per cent from the second to the third quarter last year, while prices of flats fell by 0.2 per cent during the same period.

Houses prices increased the most in the major cities during 2002

Prices of second hand dwellings increased by 5.6 per cent form the third quarter of 2001 to the third quarter of 2002. Stavanger, Bergen and Trondheim had the highest price growth, by 9.6 per cent. In Oslo and Bærum and the rest of the country, prices increased by 5.8 and 5.0 per cent respectively. Akershus exclusive Bærum had the lowest price growth where prices increased by 4.1 per cent during 2002r.

Prices of row houses increased by 7.1 per cent from the third quarter of 2001 to the third quarter of 2002. In comparison, prices of detached houses and flats increased by 4.6 and 6.7 per cent respectively, during the corresponding period.

A total of 6 911 sales have been used in the calculation of the price index.

Tables:

• Table 1 Price index for secondhand dwellings. Freeholder. 1991=100
• Table 2 Price index for secondhand dwellings. Housing co-operative. 1998=100
• Table 3 Average price per square meter, . Freeholder. County/city