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206861
Price fall for new detached houses
statistikk
2015-03-18T10:00:00.000Z
Prices and price indices;Construction, housing and property
en
enebolig, Price index for new detached houses, price development, new buildingsDwelling and housing conditions , House prices and house price indices , Construction, housing and property, Prices and price indices
false
The purpose of the price index for new detached houses is to compile an output price index for construction activity. Prices of new detached houses fell by 1.5 per cent from the third quarter to the forth quarter of 2014.

Price index for new detached houses, Q4 2014

The price is connected to the quarter in which the local authorities register the construction work as completed and not at the time of entering into the sales contract. Therefore, the price index for new detached houses intercepts large changes in the market with a delay of almost one year.

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Price fall for new detached houses

Prices of new detached houses fell by 1.5 per cent from the third to the forth quarter of 2014.

New detached houses, price index (2000=100)Published 18 March 2015
Price indexPercentage change from the same quarter of the previous yearPercentage change from the previous quarter
1st quarter 2014208.84.2-1.0
2nd quarter 2014212.56.61.8
3rd quarter 2014216.66.71.9
4th quarter 2014213.41.1-1.5

Source: Statistics Norway

Figure 1. New detached houses, price index. 2000=100

Compared to the fourth quarter of 2013 new detached houses were 1.1 per cent more expensive in the forth quarter of 2014. The contractors’ construction costs for detached houses of wood increased by 3.6 per cent in the same period, according to Statistics Norway’s construction cost index.

According to the annual price index, new detached houses were 4.6 per cent more expensive in 2014 than in the previous year.

A total of 849 observations have been used in the index calculations for the forth quarter of 2014.