August 1, 2018 / 9:08 AM / in a year

UPDATE 1-Norway's OBOS says Oslo housing prices rose 1.1 pct in July

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OSLO, Aug 1 (Reuters) - Prices for Norwegian real estate developer OBOS’ homes in Oslo rose by 1.1 percent in July to 61,733 Norwegian crowns ($7,561.80) per square metre from June, OBOS said on Wednesday.

So far this year prices have risen by 10.1 percent, while on a year-on-year basis they were unchanged.

“The new numbers confirm our assumptions that the Oslo market is about to stabilise, we are in a more normalised market for used homes,” OBOS Chief Executive Daniel Kjoerberg Siraj said in a statement.

Prices in the Oslo region are still some 5 percent below the all-time high reached in February 2017.

Nationwide, the average price was 53,931 crowns in July, 0.3 percent higher than in June. So far this year national OBOS prices have risen by 9.0 percent.

$1 = 8.1638 Norwegian crowns Reporting by Ole Petter Skonnord, editing by Terje Solsvik

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