Price index for existing dwellings, 1st quarter 1998:

Prices of apartments rising the fastest

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Prices of apartments climbed the most from fourth quarter 1997 to first quarter 1998, with 3.9 per cent. Prices of small houses increased 2.1 per cent, while the prices of single family homes sank 0.1 per cent.

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Prices increased the most for apartments in Stavanger, Bergen and Trondheim, by 8.3 per cent, while the prices of apartments in Oslo and Bærum rose 4.7 per cent.

Overall, the prices of existing homes rose 1.1 per cent from fourth quarter 1997 to first quarter 1998. In Oslo and Bærum, prices rose 4.2 per cent. The corresponding increase in Stavanger, Bergen and Trondheim was 3.8 per cent, while prices were almost unchanged in the rest of the country.

Regional price differences for existing houses

From first quarter 1997 to first quarter 1998 the prices of existing homes increased a total of 7.8 per cent. Big regional differences exist, however. The price rise was the highest in Oslo and Bærum, with 14 per cent. Here, the prices of apartments rose 16.4 per cent, while the price of single family homes and small houses increased by 10.5 and 9.8 per cent respectively. The lowest growth in prices was seen in the price zone "rest of the country," with 5.4 per cent.

In addition to regional differences, there are also variations among the different types of housing. From first quarter 1997 to first quarter 1998 the prices of apartments rose 13.1 per cent, while the prices of single family homes and small houses rose 6.7 and 6.1 per cent respectively.

New Statistics

Price index for existing dwellings. 1st quarter 1998.
Statistics are published every quarter in the Weekly Bulletin of Statistics and the monthly publication Bygginfo. For more information, contact roger.jensen@ssb.no, tel. +47 62 88 55 45, or inger.jorun.monsrud@ssb.no, tel. +47 62 88 54 26.

Weekly Bulletin issue no. 26, 1998