Believe house prices fall by 5-10 per cent

(Obi.no:) - House prices falling in many places on the globe where it occasionally has been brennhett. Sydney, London, Manhattan is down. It looks like scepticism to invest in expensive rental properties is increasing around the world, commented the chief economist in the Eika Group, Jan L. Andreassen, to the Obi.no.

A skepticism that he in 2019 thinks is going to many a Norwegian city and built.

- Better than I expected

- December was down, but less than normal, with only 0.2 percent from the month before. For the year as a whole, was 2018 better than I expected both in price and volume. More homes were built, sold and at higher prices than I predicted, comments Andreassen.

The overall inflation rate from December to December was 2.8 percent, as measured by the Eiendomsverdis boligprisindeks. But on average, house prices are only up 0.8 per cent for the year.

Boligåret ends with uncertain investors are sitting on large warehouses of quite ordinary homes as it is not profitable to rent out. A large choice a citizen of a falling tendency for house prices now in the new year, given that potential buyers have very much to choose from, most places in Norway, " says Eika-economist.

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Stavanger, Bodø, Ålesund and Trondheim were all down by 2.0 per cent in December. Bergen, who has for Andreassen been surprisingly strong throughout the year, fell more normal 0.4 per cent this month.

Oslo was strong, down only 0.2 per cent. A number that looks a little hokie, given that OBOS reported a decline in their London homes this month, at 1.7 per cent.

Total of 4. quarter house prices for OBOS their Oslo-homes down 3 per cent.

Also in the year we will see large differences between the cities where it has not been as much construction activity and stable prices, and those who get the weakest price trends - where speculators have been ivrigst, says Andreassen.

A common denominator for the weak boligmarkedene the globe around can according to the sjeføkonomen be that the combination of very low interest rates in central banks and minimal kredittpåslag is at the end. Now that funding comes marked up, and stocks may seem cheaper than before, pushed the prices of luxury homes in most climes, he believes.

- Keeps the Norges Bank in the ro – I predict - do not need boligpriskorreksjonen to be so great here at home. Banks are still excitable to provide the mortgage. For the year as a whole will the kingdom probably get a real boligprisnedgang of 5-10 per cent, with a decrease of 2-7 per cent in current prices, if the wage settlement in the year as last year.

Even has Album minus three per cent as an estimate for house prices in the calendar year 2019.

- It sounds dramatic, but is that said only ripples compared to what we see in other former so sizzling cities around the world.

- Whether or not I get just depends on the numbers for 1. quarter of this year. A quarter that normally provides a rise in house prices of three per cent or more, but which I predict will be quite so flat in 2019, ending the Eika-economist.

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