There are more and more unsold residential properties in the Norwegian property market – also outside the traditional press areas. – It has been slow. Interest rate increases probably make people sit on the fence longer and wait. It is difficult, perhaps, for many to get a loan from the bank and so much money. That’s what Jon Dagfinn Larsen says in the Nordland municipality of Rana, who, together with his wife, is selling the family home in order to be able to move to something smaller. Today Eiendom Norge comes with updated figures on the price statistics for residential buildings in October. Last week, their regional report for the third quarter showed a decline in house prices in most areas of the country. In Rana, when Larsen has a house on the market, the houses are on average 24 days before sale. – 45 per cent of what was sold in October is below the asking price, says Tomi Christian Johansen, day-to-day manager of Aktiv Eiendomsmegling. Here is the home Jon Dagfinn Larsen and Inger Johanne Larsen have had for sale in Mo i Rana since June. Price proposal: NOK 7 million. Photo: Aktiv eiendom Finn: – Low interest and several housing units On the market place in Finn right now there are 14,500 housing units for sale nationwide. That is 10 percent more than last year. Jørgen Hellestveit is the manager of Finn Eiendom. He says that sellers have to lower their asking price by several hundred thousand. – The reason is that there are more homes on the market and not so much interest. Right now there are around 10 per cent more dwellings in Finn compared to the same day last year. The same tendencies can be seen in Nordland. There are 716 homes for sale right now, which is 5 per cent more than at the same time last year. Fewer people get to sell their home when they put it up for sale. According to Finn Eiendom, interest per advertisement is decreasing. Here from Bodø. Photo: Simon Skjelvik Brandseth / news – Interest seems to be decreasing somewhat in the more expensive houses, detached houses and terraced houses. In the case of apartments and more affordable homes, activity is somewhat higher than the rest, says Hellestveit. – No longer hot Property broker Tobias Bronder is the day-to-day manager of Partners Eiendomsmegling in Bodø. He says that the market can no longer be called hot. So far, just under a thousand homes have been sold in Bodø, compared to just under 1,100 at the same time last year. This is a decrease of approximately 100 dwellings. – From the fact that every home went after mostly the first viewing, it was probably experienced as a sudden brake when it takes two or three times before the homes are sold. At the same time, we are at a time of year when it is natural that it is a little quieter. – The trend now is that it takes longer to sell each home. There are fewer people on viewings and this has meant that there are quite a few more houses for sale today, compared to the same time last year, says estate agent Tobias Bronder. Photo: Partners Eiendomsmegling Bronder adds: I fear that a further progressive increase in interest rates will have a negative impact on people’s personal finances, he says. Why it takes longer for people to strike is complex, he believes. – It is easy to see the progressive increase in interest rates, which makes people a little more restrained. People use their time better and are more sensitive to changes in the private economy. The situation has also made it more difficult to price the homes. – We have to assess each individual object more price-sensitively. Since we are a little behind on the price adjustment, we now have to correct ourselves down again. Homes that are relaunched will of course come out with a new price to try to adapt to the market. Considering waiting with the sale I Mo i Rana Jon Dagfinn Larsen is considering waiting with the housing sale until after Christmas. – The market is rough, and I don’t expect anything to happen before Christmas. If we see that the house will remain standing for much longer, we try to wait until the end of the new year. – Fortunately, we are not in the situation where we have bought anything else. Then we would have had a problem. We have a roof over our heads and are comfortable here, concludes Larsen.
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Many experience a sudden stop – Jon Dagfinn and his wife cannot sell the house – news Nordland
