Norway real estate market gets stronger

During the last eight years, the property market in Norway has a growing trend. And now, it seems to get stability; it also has had to toughen hypothecation norms and lifting mortgage.
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According to Statistics Norway data, housing price index inched up by 2.27% during 2018. Considering inflation, Norwegian house prices on the real estate market brought up by 0.16%. During the last quarter, countrywide prices for dwelling scaled down by 2.35%, 3.27% inflation-adjusted. There is a list of cities, where property worth rose the most.
Oslo had the biggest annual price lifting by 4.45% (2.28% inflation-adjusted) in 2018, in opposite to dropped by3.01% (-5.16% inflation-adjusted) during the previous year, 2017. And now it takes a steady position on the property market. Bergen, the accommodation price index lightly increased by 1.51% (but fell by 0.59% adjusted for inflation). In the last quarter, housing prices got lower by 2.42% compared with the previous quarter (- 3.34% adjusted for inflation). Trondheim, property value popped over by 3.37% (1.23% adjusted for inflation). At the beginning of 2019, housing prices slightly increased by 0.18%. Stavanger, housing prices fell by 3.31% (-5.31% adjusted for inflation). In the course of 2018, local housing cost declined by 1.33% (-2.26% adjusted for inflation).
Of the country's regions in Sør-Ostlandet, there was the highest annual price rate rising — a restrained 2.85 %, came after Akershus, excepting Brum with 2.71%, Nord-Norway 2.53%, and Hedmark and Oppland 2.14%. The minimum annual price clam was observed in Westland, except for Bergen (1.18%), as well as in Agder and Rogaland without Stavanger (0.4%). On the other hand, housing prices fell by 3.35% in Trondegas, excluding Trondheim.
Because of inflation, the nationwide housing price index has lifted by 0.04% during the year to Q1 2019, after a year-year collapse by 1.05% in Q4 2008, 0.32% in Q3 0.73% in Q2 and 3.01% in Q1. In the fourth quarter, the real estate part of the market has risen by 2.36% over the last quarter of 2019.
In the first quarter of 2019, the Norwegian economy increased by 2.5% compared with a growth of 1.9% in the previous quarter. The continent’s economy, which rules out oil production and associated shipping, increased by 3.7%. It’s an improvement over the growth of 2.6% in the previous quarter.
According to the forecasts of the International Monetary Fund (IMF), this year the economy will grow by Visiting GMOTrading.com, you can find more interesting information about this matter.
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