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Norway's housing prices down 0.4 pct in August
September 5, 2017 / 9:06 AM / 3 months ago

Norway's housing prices down 0.4 pct in August

OSLO, Sept 5 (Reuters) - Norwegian seasonally adjusted housing prices fell by 0.4 percent in August from July, the fourth consecutive monthly decline as the cost of buying a home continues to ease from recent record highs, a real estate industry association said on Tuesday.

On a year-on-year basis prices rose by 3.1 percent in August, below 4.8 percent seen in July and down from 13 percent seen as late as February, Real Estate Norway said.

Tighter mortgage regulations, lower population growth and a boom in construction, flooding the market with new homes, have all contributed to the recent market turnaround.

Unadjusted prices rose by 1.2 percent in August from July.

The housing data was compiled by Real Estate Norway, FINN and Eiendomsverdi. (Reporting by Camilla Knudsen, editing by Terje Solsvik)

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