– April will be very intense – E24

– April will be very intense – E24

Interest rate peaks, spring releases and wage settlements: Brokers say there are many reasons to expect a sharp spring in the housing market.

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The house price feature for March comes on Thursday, when Eiendom Norge presents new figures at 11.00.

In February, home prices rose 1.4 percent nationally, a seasonally adjusted increase of 0.7 percent.

Renate Sørestrand-Hansen, managing director of DNB Eiendom, says that a good number of houses have been released on the market in the past week and that there is currently a “good balance” in the market.

An early Easter will affect sales figures for March somewhat, he says, but compared to previous Easters, activity has been normal.

– It is normal for prices to rise in March and this time we expect a slightly higher than usual seasonally adjusted growth of 1.2 per cent, he says.

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He says more buyers will come in the future. On average, homes sell for two percent more than asking price, he says.

– Cities, where it is the biggest engine in the market, have again pulled the load in winter. Last fall we saw a big divide between city and country, says Sorestrand-Hansen.

Nevertheless, he believes there are trends for more regions to follow suit.

– Oslo gives a good indication of how the market works in general. But high turnover and price appreciation in districts is a sign of overall health, he says.

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Renate Sørestrand-Hansen, CEO of DNB Eiendom.

Looking forward to April

– Grethe Meier, Managing Director of Privatmegleren, says that April will be very intense.

He expects better activity in the market in the coming month. Meier points out that many people who waited to put their homes up for sale because of Easter are now putting their homes on the market.

– We are waiting for information about the interest rate peak and when the first cut will come. It does something to predict. At the same time, there were many people who sat on the fence and waited for a while.

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Grethe Meier, managing director of Privatmegleren, expects April to be a tough month for the housing market.

In March, Norges Bank again kept the policy rate unchanged at 4.5 percent. Many economists now believe that interest rates have reached a ceiling.

Although Privatmegleren expects a lot of activity throughout the summer, Meier believes we will eventually see prices drop when the supply side is smaller in the fall.

sees a strong rise in Stavanger

Gareth Meyer says there are several reasons for positive sentiment in the market going forward.

– It's spring, interest rates have peaked, and we expect a good wage settlement. There are many positive aspects that affect the psychology of the market.

Meyer points to Stavanger and Oslo as the biggest reasons for sellers to be optimistic.

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– Stavanger is an area where the supply side is low, and the market will continue to be strong. Oslo will be even stronger than the rest of the country, due to poor distribution. There are many people who want to live in Oslo, he says.

Renate Sørestrand-Hansen at DNB Eiendom agrees.

– Now you know what you need to do in terms of interest rates, and the next adjustment will be downwards, he says of interest rate peaks.

Sørestrand-Hansen cites Stavanger and Sandnes as areas where prices will rise the most in the future.

– In Oslo it's pretty consistent as usual, while in Bergen it's up and down from month to month. Tromsø, for its part, had a large surplus of housing throughout the fall, but is now starting to pick up again, he says.

DNB Eiendom toppen believes that there is little to point to a fall in prices in the future.

– Low levels of house construction are contributing to rising prices, a picture that will intensify throughout the year and will have an even bigger impact on house prices from 2025 onwards.

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Joshi Akinjide

Joshi Akinjide

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