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By Camilla Knudsen
OSLO, March 3 Norway's housing prices rose 13
percent year-on-year in February, the fastest pace in a decade,
but a recent tightening of mortgage regulations is expected to
bring the level down in coming months, a real estate association
said on Friday.
In January the year-on-year rate had stood at 12.4 percent.
The rapid growth in Norway's housing prices is widely seen as
reducing the chance of a cut in central bank interest rates.
"We believe the year-on-year growth rate has peaked and that
we'll see numbers well below 10 percent later in 2017, Real
Estate Norway Chief Executive Christian Dreyer told a news
"We're starting to see a tendency towards a shift from very
strong growth in prices to moderate growth, and we expect this
trend to continue in the time ahead.
Norwegian seasonally adjusted housing prices rose by 0.6
percent in February from January, the data compiled by Real
Estate Norway, FINN and Eiendomsverdi showed. Unadjusted prices
rose by 0.8 percent month-on-month.
Norway's Finance Ministry late last year imposed regulations
intended to limit the size of mortgages. Norway's central bank
will announce its next interest rate decision on March 16.
(Editing by Terje Solsvik)