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Large regional variations between new and second-hand house prices
statistikk
2016-03-31T10:00:00.000Z
Prices and price indices;Construction, housing and property
en
kvadenebol, Prices per square metre of detached houses, price development, house prices, new detached houses, second-hand detached housesDwelling and housing conditions , House prices and house price indices , Construction, housing and property, Prices and price indices
false
In 2015, the average price of second-hand detached houses was 69.2 per cent of the price of new detached houses.

Prices per square metre of detached houses, 2015

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Large regional variations between new and second-hand house prices

In 2015, the average price of second-hand detached houses was 69.2 per cent of the price of new detached houses. The corresponding figure for 2014 was 68.4 per cent. There are extensive regional differences between new and second-hand detached houses.

Prices per square meter for detached housesPublished 31 March 2016
Price per square meter (NOK)Percentage change from previous yearPrice ratio of used detached houses in per cent of news ones
New detached housesUsed detached housesNew detached housesUsed detached houses
201125 95719 0289.06.173.3
201228 41519 9769.55.070.3
201329 42320 7803.54.070.6
201430 90421 1385.01.768.4
201531 90622 0683.24.469.2

Source: Statistics Norway

Figure 1. Average price per square meter for used and new detached houses, 2015

The average square metre price of new detached houses completed in 2015 was NOK 31 906. The average square metre price of detached houses bought in the second-hand market in the same year was NOK 22 068. The average square metre price rose by approximately NOK 1000 for both new and second-hand detached houses compared with the previous year.

Large regional variations

There are extensive regional variations in prices of new and second-hand detached houses, in terms of both relative price and growth. In Oslo, Bergen and Trondheim the gap between second-hand and new detached house decreased by 5 to 10 percentage points between 2014 and 2015. The development in Stavanger and the rest of Rogaland was the opposite. In Stavanger, the average price ratio of a second-hand detached house compared to a new house was 68 per cent in 2015, and the corresponding figure for 2014 was 80.3 per cent. The decrease is mainly a result of considerably higher prices of new detached houses in the region.

The average square metre price of new detached houses varies from NOK 26 042 in Sogn og Fjordane to NOK 54 567 in Oslo. Stavanger is the second most expensive city, with an average square metre price of NOK 47 634.

The average square metre price of second-hand detached houses varies from NOK 14 814 in Nord-Trøndelag to NOK 46 753 in Oslo. Bergen surpassed Stavanger as the second most expensive city in 2015.