Housing prices fell by 1% in July, but seasonally adjusted they increased by 0.2%. Overall, prices have risen 5.6% so far this year.
Oslo is lagging somewhat behind the rest of the country, with only 2.9% growth so far this year. The early-year forecasts of double-digit growth now look set to fall through quite thoroughly!
From a buyer’s perspective, the current market in Oslo (and in several other places) gives no reason to fear a major price surge in the near future, even if interest rates were to be cut further. It takes some time before such changes fully take effect. There are fewer homes for sale than before the summer holidays. Lower supply can influence bidding rounds and prices, but we don’t yet know how this will play out in the coming months.
Now, in mid-August, quite a few homes have already been put on the market. And there was no interest rate change this time, even though one or perhaps two rate cuts are expected during the autumn. So there are no signs that the market will take off, even though it’s the season for buying smaller homes for students, where parents often help out. In that segment, we might see some intense bidding wars.
Stay tuned for my updates ❤️
So my advice is:
Don’t let the market pressure you. Take your time planning, think about your housing needs before your investment goals – and seek guidance if you feel uncertain.
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