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UPDATE 1-Norway's April house price growth eased to 10.7 pct year-on-year
May 4, 2017 / 9:20 AM / 7 months ago

UPDATE 1-Norway's April house price growth eased to 10.7 pct year-on-year

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OSLO, May 4 (Reuters) - Norwegian seasonally adjusted housing prices were unchanged in April compared to March, confirming a weaker trend after years of strong growth, a real estate industry association said on Thursday.

On a year-on-year basis, prices rose by 10.7 percent in April, down from 11.7 percent in March and from a peak of 13 percent in February, Real Estate Norway (REN)said in a statement.

“April developments confirm a moderate trend and we see signs of a levelling-off (in prices) across most of the country. We expect the moderate trend to continue in the months to come,” it added.

The Norwegian government at the start of the year imposed tougher banking regulations to curb mortgage lending an help limit the growth in property prices.

Unadjusted prices rose by 0.5 percent in April from March.

The housing data was compiled by Real Estate Norway, FINN and Eiendomsverdi. (Reporting by Ole Petter Skonnord, writing by Terje Solsvik, editing by Gwladys Fouche)

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