[ad_1]
The crown crisis had little effect on the Obos market in April, writes the Obos housing construction team in a press release. In Oslo, used home prices were unchanged. Nationally, there was a small price increase of 0.3 percent from March to April.
– The trend indicates that house prices are holding up well despite the extraordinary situation in which we find ourselves. Activity also continued, despite strict infection control measures, says chief economist Sissel Monsvold in Obos.
– We are in an uncertain time
Nationwide, the price of NOK 56,500 square meter was in April. This is 2.6 percent higher than in April last year.
Activity also held up well in April. In Oslo, 432 houses were sold last month, compared to 442 houses in April last year.
However, the uncertainty is high, according to Monsvold in Obos.
– We are in an uncertain time. The trend depends on how high unemployment will be in the future. Increasing unemployment may make some households feel insecure and need a greater financial buffer. Coupled with the prospects for weaker wage growth, this will reduce housing demand than we expected before March 12, she says.
In the opposite direction, the fall in interest rates and greater flexibility in mortgage loan regulations, says the executive director.
– After all, most households will retain their income and even receive reduced loan rates. More people may want to wait to sell the used home. It will help limit a drop in house prices, she says.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which links directly to our pages. Copying or any other use of all or part of the content may only be made with written permission or as permitted by law. For more terms see here.
