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UPDATE 1-Norway's new homes sales rose 21 pct yr/yr in November
December 14, 2016 / 9:25 AM / a year ago

UPDATE 1-Norway's new homes sales rose 21 pct yr/yr in November

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OSLO, Dec 14 (Reuters) - The sale of new Norwegian homes rose by 21 percent year-on-year in November, while housing starts rose by 24 percent, the Norwegian Home Builders’ Association said on Wednesday.

Year-to-date the sale of new homes was up by 14 percent, while housing starts were up 4 percent, it added.

In the last 12 months, 34,687 new homes were sold nationwide, while construction was begun on 31,243 homes.

“We’ve never seen numbers this high in all the years we’ve collected data. It looks very good, though Oslo is still lagging,” Chief Executive Per Jaeger told a news conference.

Measurements began in 1999, he added.

Norwegian housing prices have risen sharply in recent years, particularly in and around the capital, as demand for homes has outstripped supply.

In October, homes sales fell by 2 percent from the same month of 2015, while housing starts rose by 26 percent. (Reporting by Ole Petter Skonnord, writing by Terje Solsvik, editing by Stine Jacobsen)

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