Norway’s seasonally adjusted housing prices increased by 0.1 percent in May compared to April, according to a report released by real estate industry associations on Friday.
Adjusted for seasonal variations the gain was just 0.1% over the month. That was a sharp fall from the 1.2% price increase reported last month by engineering consultant Pöyry on behalf of real estate agents and sector organsiations such as the Norwegian Association of Real Estate Agents (Norges Eiendomsmeglerforbund, NEF).
On a year-on-year basis, prices rose by 7.0 percent in May, the association of real estate agents (NEF) and the association of real estate agency firms (NFF) said.
The figures represent a sharp fall on the rate or price increases recorded in April, and are said to be the result of a greater supply of properties hitting the market.
Despite this, the average price per square metre is still running 6.2% higher than the average for all of 2011.
