The matter in summary 2023 was a crisis year for the housing and construction industry with record low housing construction. Sales of new homes fell by 40 per cent. Projects are put on hold due to lower sales. The decline in the new housing market continued from an already weak level in 2022. You have to go back to the banking crisis of the early 1990s to find correspondingly weak figures for the new housing market in Norway. The large population growth is intensifying the housing crisis. The summary is made by an AI service from OpenAi. The content is quality assured by news’s journalists before publication. Today, Boligprodukterene presented the weakest figures ever measured for new homes. The figures are noticeable for the contractor company HRL in Grenland. – It is a bit demanding. There are fewer sales than we are used to, and this leads to projects being put on hold. So it’s tough for everyone, says project manager Thomas Gjærum Jørgensen. A total of 6,460 apartments were sold last year, and that is down 40 per cent from 2022. Photo: Gry Eirin Skjelbred / news Crisis year for housing construction Last year was a very demanding year for the industry, states managing director of Boligprodukterene Lars Jacob Hiim. – The decline in the new housing market continued in 2023 from a weak level in 2022. 2023 has been a crisis year for housing construction and the industry. Lars Jacob Hiim is managing director of Boligprodukterene. Photo: Johnny Syversen / Press photo From 2022 to 2023, the arrows in the construction industry are going straight down: Total sales of homes: – 32 percent Sold apartments: – 40 percent Total start-up of new homes: – 40 percent Start-up of new apartments: – 51 percent Hiim says we must back to the banking crisis of the early 1990s to find correspondingly weak figures for the new housing market in Norway. – The large population growth is now intensifying the housing crisis. – Will be a tough start to 2024 The housing producers believe that the situation is partly due to the fact that it is expensive to build, that planning and construction matters take too long, the interest rate, and the demand from banks for a high sales rate in order to obtain construction loans. The decline in sales of new homes is evenly distributed across the country. – It will be a tough start to 2024, says Hiim, who believes that the lay-off scheme should be extended so that the industry does not lose important expertise. Now employees can only be laid off for 26 weeks – compared to the previous 52 weeks.
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Fewer new homes have ever been built – news Vestfold and Telemark – Local news, TV and radio
