This morning, Eiendom Norges came up with its predictions for the housing market in 2024. They believe there will be an increase of four per cent. Especially in Oslo and Stavanger, prices will increase, they believe. Two of those who are particularly concerned about house prices at the moment are Sophie Kvam (37) and Terje Hongset (54) in Bodø. The couple, who each have children from previous relationships, agreed in January this year to separate after six years. Together they own a home. Selling it has turned out to be a real challenge. – We thought that in the worst case it would take many months instead of a few. Then we would buy ours and move on. It didn’t turn out that way. Moved down to the rental section After a round of renovations, the house was put up for sale in May 2023. It didn’t take long then for the ex-boyfriends to feel the pinch of a tough housing market. Because while interest rates have increased, house prices have fallen. The couple emphasizes that they work well together, and that it is fine to live in the same home even if they have broken up. Photo: private Earlier this month, figures were released which showed that house prices have fallen in five of the last six months. – We advertised the property again this autumn, but there have been few interested parties and many canceled viewings. Nine months after the breakup, Sofie and Terje decided that something had to be done. So Sophie and her daughter moved down into the rental part of the house. – Terje and I have only been allowed to take a few steps apart – much to the delight of the cat who walks between the apartments. – This is the world’s longest breakup, laughs Sophie. Forecasts for the big cities Photo: Simon Skjelvik Brandseth / news Eiendom Norway’s forecasts for the 12-month growth in 2024 for the big cities: Oslo: Increase of 6 per cent Bergen: Increase of 3.5 per cent Trondheim: Increase of 2.5 per cent Stavanger: Increase of 7 per cent Tromsø: Increase of 1 per cent Eiendom Norge: Increase of four per cent Perhaps Eiendom Norge’s forecast for 2024 can be good news. The interest organization believes that prices will rise by four percent in Norway. – A good wage settlement that gives real wage growth next year will have a positive effect on price developments. So do expected interest rate cuts, says managing director Henning Lauridsen. – There is also less uncertainty about inflation, interest rates and housing costs now than at the same time last year. All this means that we are positive about the outlook for house prices in the country under one next year. DNB estimates on Wednesday that house prices will rise by 2-3 per cent next year. They refer to housing shortages, interest rate cuts and increased demand. Eiendom Norge’s forecast for the housing market in 2024 is an increase of 4 per cent. Norges Bank expects an interest rate cut towards the end of 2024, while Eiendom Norge expects three cuts in 2024. The first probably before the summer. Chief economist thinks Eiendom Norge is wrong – I unfortunately think their forecasts are wrong and that they are too positive. That’s what Kyrre M. Knudsen, chief economist at SpareBank 1 SR-Bank, says. Photo: Sparebank 1 Still good friends Terje Hognset and Sophie Kvam say it is difficult to know exactly why their house is not being sold. – It is a renovation object, but we have done a lot with it. It is a good way to get a large space in addition to the possibility of rental income. Both emphasize that they work well together, and say they are lucky to still live “okay” together. – We are friends and meet for dinner every now and then, but if it had been a dramatic situation, it would have been a complete crisis, says Terje. – But our children have also been prepared for change, and it did not come. It’s boring for everyone. Except for the cat, Sophie smiles. Hopefully both Terje and Sophie will be able to settle down as much as their cat in 2024. Photo: private
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This is how Eiendom Norges predicts that housing prices in 2024 will be – news Nordland
