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NORWAY: Einedom Norge Expects 10% House Price Growth In 2025

NORWAY
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Einedom Norge expect house prices to increase 10% over the course of 2025. This is above the Norges Bank December MPR projection of 6.3% and Statistics Norway’s 4.4% forecast.

  • “The most important drivers behind the recovery are a historically low number of completed new homes in 2025, interest rate cuts and good wage growth”.
  • “The recently announced easing of lending regulations will also provide some stimulus, but our assessment is that the effect will be greatest in medium-sized cities and districts”.
  • The association notes that completed new homes will fall significantly next year, weighing on the construction sector.  Construction respondents in the Norges Bank’s Q4 Regional Network Survey expect output growth of -1.3% Q/Q in Q4 and -1.1% Q/Q in Q1 2025.
  • “Eiendom Norge expects housing investments to be much weaker next year than the government assumed in the state budget and that Statistics Norway's recent forecast is unfortunately far more likely”.
  • Although impending Norges Bank rate cuts will “have a positive effect on house prices and house construction”, “more is needed to stimulate house construction properly”.
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Einedom Norge expect house prices to increase 10% over the course of 2025. This is above the Norges Bank December MPR projection of 6.3% and Statistics Norway’s 4.4% forecast.

  • “The most important drivers behind the recovery are a historically low number of completed new homes in 2025, interest rate cuts and good wage growth”.
  • “The recently announced easing of lending regulations will also provide some stimulus, but our assessment is that the effect will be greatest in medium-sized cities and districts”.
  • The association notes that completed new homes will fall significantly next year, weighing on the construction sector.  Construction respondents in the Norges Bank’s Q4 Regional Network Survey expect output growth of -1.3% Q/Q in Q4 and -1.1% Q/Q in Q1 2025.
  • “Eiendom Norge expects housing investments to be much weaker next year than the government assumed in the state budget and that Statistics Norway's recent forecast is unfortunately far more likely”.
  • Although impending Norges Bank rate cuts will “have a positive effect on house prices and house construction”, “more is needed to stimulate house construction properly”.