By Camilla Knudsen
OSLO: Norwegian seasonally adjusted housing prices rose by 0.8 percent in November compared to October, a real estate industry association said on Monday.
On a year-on-year basis, prices rose by 11.6% in November, down from 12.0% in October, Real Estate Norway said. Unadjusted prices rose by 0.1 % in November from October.
The rapid growth in Norway’s housing prices is widely seen as a factor reducing the chance of a cut in central bank interest rates.
The year-on-year rise in prices will probably rebound in December to a level of about 12 percent, Real Estate Norway Chief Executive Christian Dreyer told a news conference.
The current high rates of construction will probably limit price growth in the time to come though, he added. (Editing by Terje Solsvik)
Source: Reuters