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TODAY IN NORWAY

Today in Norway: A roundup of the latest news on Tuesday 

A lack of rental homes on the market, torrential rain expected in parts of the country, thousands of students stuck in the housing queue, and other news from Norway on Tuesday.

Pictured is stock photo of Oslo Opera House.
Find out what's going on in Norway on Tuesday with The Local's short roundup of Norwegian news in English. Pictured is stock photo of Oslo Opera House. Photo by Nan Wisanmongkol on Unsplash

Fewer rental homes on the market despite record demand 

Rising demand for rental properties has been met with a drop in the number of homes available on the market compared to last year, financial newspaper Finansavisen reports. 

“It is a demanding time for those who are entering the rental market right now. There are simply too few homes on the market,” marketplace director at Finn Eiendom, Jørgen Hellestveit, told the paper. 

There were 40 percent fewer rental properties in Oslo at the end of June than the year before. In addition, there were 45 percent fewer properties to rent nationwide, with the number of ads also dropping significantly. 

Due to the lack of options, homes spend far less time on the market than last year. Between May and July, a home spent between eight and 11 days on the market on average. 

READ ALSO: Eight things to know when renting an apartment in Norway

New car sales down 

The number of new cars sold is down around 20 percent compared to last year, but electric car sales remain strong. 

“Even though car sales are down sharply from last year, the electric car market is still red-hot. The waiting lists are long, and the electric car is quickly catching up with the petrol car as the second most sold used car after the diesel car,” Thor Egil Braadland from the Norwegian Automobile Federation said in a press release. 

Torrential rain expected in parts of the country

Heavy rain is expected in parts of Finnmark, Rogaland and Adger on Tuesday afternoon and evening, and a yellow danger warning has been issued. 

“Locally heavy rain showers of over 15 mm in one hour are expected in the fjord areas of Finnmark and on the Finnmarksvidda,” the Meteorological Institute wrote on Twitter. 

In parts of Adger and Rogaland, there could be up to 50 millimetres of rain in six hours. Meteorologists have warned that stormwater could build up during the evening. 

Up to 14,000 in student housing queue

Around 14,00 students are on a waiting list for student accommodation, according to a survey from Student Associations. 

This is less than before the pandemic, when there were more than 17,000 students waiting in the housing queue. 

Oslo is where the waiting list is the longest, with around 6,431 waiting for student housing. 

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TODAY IN NORWAY

Today in Norway: A roundup of the latest news on Friday

Figures reveal how much household expenses have risen and school exams to go ahead despite teachers' strike disruption, plus other news from Norway on Friday. 

Today in Norway: A roundup of the latest news on Friday

Consumers more concerned with energy bills than high-interest rates

Energy and food prices are more concerning for consumers in Norway than rising interest rates, a survey carried out by Sparebank 1 has revealed. 

On Thursday, Norges Bank announced it would raise the interest rate by 0.5 percentage points to 2.25 percent. 

According to the survey, three-quarters of respondents had taken action to deal with the cost of living increases across the board. 

Norwegian newswire NTB reports that 52 percent are worried about the high electricity bills, 46 percent about the high food prices, and 41 per cent are concerned about high-interest rates. 

Tests to go ahead despite teachers’ strike disruption

National tests will not be postponed, despite the ongoing strike’s disruption of students’ education. 

Nationwide exams are mandatory testing of pupils’ skills in reading, arithmetic and English in the fifth, eighth and ninth grades.

In Bergen, several schools have told the newspaper Bergens Tidende that they will struggle to be able to carry out the tests by the deadline of Friday next week. 

“In several schools, we see that it is difficult to achieve this (testing). If the students come back this week, it may be possible, but in the schools that are hardest hit by strikes, it may not be wise and appropriate,” Frode Nilsen told the paper. 

Still, the Education Directorate has said it would not extend the deadline and that tests will go ahead. 

Household expenses for typical household risen by around 1,100 kroner per month

The expenses for a typical Norwegian family have risen by around 1,100 kroner per month, according to researchers at the analysis institute Consumption Research Norway (SIFO). 

Costs for food, other groceries and running a car have increased over the last six months. However, the cost of childcare has fallen. 

SIFO said that it had to update its reference budget for households twice this year, the first time since the 1990s that it has done so. 

Interest rates could dampen the housing market

Norway’s association of estate agents has warned that recent interest rate jumps will lead to a sharp drop in home sales and house building. 

“If interest rates are raised too quickly, and too much, unemployment can become so high, and purchasing power so weakened that it triggers a housing recession in the form of a sharp drop in housing sales and housing construction”, managing director of the Norwegian Real Estate Association, Carl O. Geiving, said.

READ ALSO: The hidden extra costs when buying property in Norway

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