May 16, 2018 / 7:03 AM / in a year

Swedish home prices up 0.9 pct in April mth/mth- HOX index

STOCKHOLM, May 16 (Reuters) - Swedish home prices rose 0.9 percent in April from March, but fell 4.2 percent on an annual basis, the Nasdaq OMX Valueguard-KTH Housing Index (HOX) showed on Wednesday.

Apartment prices decreased 7.2 percent year-on year, while single-family home prices were down 2.3 percent.

Sweden’s red-hot housing market has wobbled in recent months, but analyst expect the downturn to be short-lived and relatively shallow thanks to a continued shortage of properties, a growing population and a strong economy.

However, the cooler market is likely to hit residential construction plans and put the brakes on GDP growth next year.

Separate figures published earlier on Wednesday by an association of real estate agents showed apartment prices fell 7 percent from a year earlier.

Prices of single-family homes were unchanged, the Svensk Maklarstatistik association said.

The HOX index is based on a statistical model that compensates for different types of homes sold during various periods to give a better picture of underlying price trends. (Reporting by Johan Sennero; Editing by Simon Johnson)

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