Housing prices pick up
Average sales prices for houses and flats rose 3 percent nationwide from December to January. Real estate brokers weren't as happy with the monthly year-on-year figures, though.
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Average prices were just 0.3 percent higher in January than they were in January 2007. That's the lowest level of annual growth measured since 2003.
Prices for detached houses were up 3.9 percent from December to January, and 5.8 percent from January 2007.
Prices for attached row-houses and duplexes were up 2.6 percent from December to January and 4 percent since January of last year.
Average sales prices for condominiums (leiligheter), which make up the vast majority of sales, brought the real estate market down. They were up 2.1 percent from December, but down 2.5 percent from January of last year.
Norway's robust real estate market first started showing signs of cooling off last summer, possibly a result of rising interest rates and high prices that kept would-be buyers out of the market.
Housing demand remains high in the Oslo area, however, prompting some brokers to speculate that prices will start moving up again.
The price survey was conducted by research firm Econ for Norwegian real estate brokers' associations (Norges Eiendomsmeglerforbund (NEF) and Eiendomsmeglerforetakenes forening (EFF) and online sales site Finn.no.
Nina Berglund/NTB
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