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11550
Large price gap between new and second-hand housing
statistikk
2009-05-20T10:00:00.000Z
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

Prices per square metre of detached houses, 2007-2008

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Large price gap between new and second-hand housing

The price difference between new and second-hand detached houses increased from 2007 to 2008. In 2008, the average price of a second-hand detached house was 77.6 per cent of a new detached house, compared with 85.6 per cent in 2006.

Average price per square metre for second-hand and new detached houses, by county. 2008

The average square metre price of new detached houses completed in 2008 was around NOK 21 200. Detached houses transferred in the second-hand market in the same year were 22.4 per cent less expensive.

There are large regional variations in the price ratio between second-hand and new detached houses. In some counties, such as Nord-Trøndelag, Hedmark and Oppland, second-hand detached houses are about 40 per cent less expensive than new ones. On the other hand, in Hordaland og Rogaland the prices for second-hand detached houses are only 10 per cent lower compared with new detached houses.

Sogn og Fjordane with lowest prices of new houses

The county with the lowest house prices was Sogn og Fjordane, with an average price per square metre of about NOK 16 000. The highest prices occurs in cities, Stavanger and Bergen and in the county Akershus around Oslo, were the average square metre price of new detached houses are above NOK 25 000. (We do not publish figures for Oslo in 2008 because of few observations)

Uncertain figures for large cities

There are few observations of new detached houses in Oslo, Stavanger, Bergen and Trondheim. In addition, there are large price differences within the largest cities. This makes comparison between the largest cities more uncertain.

Uncertainty of comparison

The comparison between new and second-hand detached houses is based on two different surveys with different definitions for the time of measurement. The prices of new detached houses are connected to the quarter in which the construction work is completed, which could be more than a year after the contract is signed. The price of second-hand detached houses is connected to the same quarter as the sales contract is signed.

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