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Swedish over-valued house prices continue to fall

Thursday, 09 February 2012
Real estate prices for one- or two-dwelling buildings decreased by just over 2 percent during the last three months (November 2011 – January 2012) compared to the previous three months (August – October 2011).

Statistic Sweden show that prices decreased by nearly 3 percent on an annual basis during the last three months (November 2011 – January 2012) compared with the same period one year earlier (November 2010 – January 2011).

Decreasing prices were reported in 17 out of 21 counties between the two previous three month periods. The largest decreases in real estate prices were reported in Kalmar and Gävleborg counties by 5 percent. In the metropolitan areas Greater Stockholm, Greater Gothenburg and Greater Malmö prices fell between 1 and 3 percent. During the last three month period the average price for a one- or two-dwelling building in Sweden was SEK 2 million, according to statistic Sweden

There is currently a substantial delay at the land registration authority (Lantmäteriet). Most of the reported purchases during the last three months refer to purchases in November - December. Real estate price statistics for one- or two-dwelling buildings by month, whole country

In several municipalities house prices fell by more than 5 percent in November to January. In Falun, prices collapsed by 9 percent, in Växjö by 8 percent and in Huddinge, Nacka, Lund and Halmstad by 7 percent, compared with the previous three-month period.

SCB statistics lag normally after about two months and most of the reported purchases in November to January at the beginning of the measurement period.
By Scancomark.se Team