House prices in Norway continued to rise in August

Frazer Norwell
Frazer Norwell - [email protected]
House prices in Norway continued to rise in August
House prices rose in Norway throughout August. Pictured is a row of flats in Grunerlokka.Photo by elCarito on Unsplash

There was a sharp increase in house prices in Norway throughout August, the latest figures from Real Estate Norway show. 


House prices in Norway rose by 1.9 percent during August, figures from Real Estate Norway show. 

Despite prices typically rising in August, prices were still 0.6 percent higher when adjusted for seasonal variation. 

In 2022, house prices have risen by 9.1 percent, with the average cost of a home in Norway at the end of August being just over 4.6 million kroner. 

“House prices rose sharply in August. It is common for house prices to rise in August, but the growth this year is strong for August, as the seasonally adjusted increase of 0.6 per cent shows,” managing director of Real Estate Norway, Henning Lauridsen, said of the figures. 

In August, 9,520 homes were sold in Norway, which is 0.6 percent more than the same period last year, though the number of houses sold in Norway this year is down by just under 10 percent. 


The managing director at Real Estate Norway has previously told The Local that interest rate hikes would help to stabilise rising house prices. 

“As you know, in Norway, we usually have a price rise in August. The prices then fall from September until December, generally speaking. 

“That could be the case this year as well, despite the previous two years being exceptions to that rule due to the COVID-19 pandemic. 

“We expect a situation similar to 2019, with prices going a bit down in the Autumn,” Lauridsen told The Local.

READ MORE: Will Autumn be the best time to buy property in Norway?


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