House prices usually fall by around 0.6 per cent in November, but Nordea believes in a smaller price drop than normal.
– We see a risk that the seasonally adjusted housing price increase in the coming months could potentially be very strong. Furthermore, we believe that activity in the second-hand housing market will remain higher than normal for the next six months, writes Nordea’s macro and currency strategist Sara Midtgaard in a analysis.
The development in the number of unsold homes is usually a good indicator of house price growth. Nordea believes that fewer homes on the market can lead to a sharp increase in prices.
– House price growth is usually strongest in January, but we envision exceptionally strong house price growth in January next year. If the Ministry of Finance decides to relax the mortgage regulations at the turn of the year, it could also lead to increased house price growth within the first quarter of next year – combined with high wage growth, writes Midtgaard.
The seasonally adjusted house prices have increased by 5 per cent so far this year.
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