Prices per square metre of detached houses, 2003-2004

New detached houses less expensive than used ones in Oslo and Hordaland

There are large regional variations in the price ratio between new and used dwellings. The price differences in central areas are generally lower, and in Oslo and Hordaland, the prices of used detached houses are higher than for new ones. The largest price differences are found in Nord-Trøndelag, where the price of a used detached house is about 60 per cent of the price of a new one. Hedmark, Sogn og Fjordane and Møre og Romsdal also have large price differences. In all of these counties, the price per square meter of a used detached house is less than 70 per cent of a new one.

Building a new house most expensive in Oslo, Akershus and Trondheim

With a square meter price in 2003 of NOK 20 831, Oslo is the most expensive county in which to build a new house. Akershus and the municipality of Trondheim also had square meter prices exceeding NOK 18 000. The most expensive used houses can be found in Oslo and Bergen.

Last year, building a new house was cheapest in Sogn og Fjordane, Nord-Trøndelag, Oppland and Aust-Agder. In these counties the average price per square meter for new-detached houses was lower than NOK 13 000. The national average in 2003 was NOK 14 800. The price per square meter for used detached houses was lowest in Nord-Trøndelag and Sogn og Fjordane, with NOK 7 558 and 8 022 respectively.

Uncertain numbers for the large cities

Particularly with regard to new-detached houses, there are few observations in Oslo, Stavanger, Bergen and Trondheim. At the same time there are regional price differences within the urban areas. This makes comparisons among the large cities more uncertain.

Tables:

• Table 1 Prices per square meter for detached houses, by county. Price ratio. 2003 and 2004