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The Swedish housing index (Boindex) rose to 133.3 fourth quarter of 2012

Thursday, 07 March 2013
The Swedish housing index (Boindex) rose to 133.3 in the 4th quarter driven by lower interest rates and higher incomes, which reinforced housing affordability.

In a press release from Swedbank, which produces the Boindex, Swedish households had the opportunities to buy homes and in the fourth quarter of last year, that chances increase. Boindex rose to 133.3 from 128.4 in the third quarter. House purchase power strengthened in the whole country as a result of lower mortgage rates and higher earnings.

The Boindex will be 100 when households use 15percent of their earnings before taxes to mortgage costs. When Boindex exceeds 100, households afford their accommodation according to the required standard. The higher the number, the better.

Media Price for houses in the country rose to Skr1.7milliom, from Skr1.69million in the quarter. The overall mortgage rate fell to 3.1percent from 3.6 perent the previous quarter, and the proportion of floating rate loans increased. The annual earned income before taxes for a household consisting of two adults with at least a workers rose to Skr638 760 before tax.

The weakest housing affordability was found with people of Stockholm, Uppsala and Gothenburg region, while the country's strongest housing affordability was found in Piteå, Örnsköldsvik and Karlskoga. House purchase ability was strengthened in over 70 percent of the Swedish municipalities in the fourth quarter.
by Scancomark.com Team

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