House Price Index (HPI) y/y

Country:
Norway
NOK, Norwegian Krone
Sector:
Housing
Low 12.2% 11.5%
12.5%
Last release Importance Actual Forecast
Previous
13.8%
12.2%
Next release Actual Forecast
Previous
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Norway Housing Price Index (HPI) y/y reflects a change in the average value of residential properties in the given month compared to the same month of the previous year. Information on residential property transactions is collected from state land registries and statistics from the largest Norwegian mortgage lenders. The collected data cover about 70% of the residential property market turnover.

The index measures the prices paid by individuals for purchased housing. HPI reflects the dynamics of second-hand housing prices across the country.

The housing market plays an important role in the Norwegian economy. The rise in house prices, among other effects, has a significant impact on the growth of household wealth and, consequently, on the purchases of goods and services. Such purchases account for more than half of the Norway mainland GDP. Housing price trends are also important for the development of housing investments. In addition, the dynamics of house prices affects the overall inflation and financial stability, and thus it may affect interest rates set by Norges Bank.

Economists analyze the indicator to assess the housing market activity. It also serves as an analytical tool for measuring changes in mortgage rates, evaluating availability of houses and assessing the general inflation in the country. The rise in housing prices is seen as a favorable factor for the country's economy, since it indicates national currency inflation growth. Therefore, growing readings can be seen as positive for the Norwegian krone quotes.

Last values:

actual data

forecast

The chart of the entire available history of the "House Price Index (HPI) y/y" macroeconomic indicator. The dashed line shows the forecast values ​​of the economic indicator for the specified dates.

A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values ​​of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.

Date (GMT)
Reference
Actual
Forecast
Previous
Apr 2021
12.2%
11.5%
12.5%
Mar 2021
12.5%
9.4%
9.7%
Feb 2021
9.7%
8.8%
8.6%
Jan 2021
8.6%
8.4%
8.7%
Dec 2020
8.7%
7.6%
7.8%
Nov 2020
7.8%
6.5%
7.1%
Oct 2020
7.1%
5.1%
5.8%
Sep 2020
5.8%
4.7%
4.3%
Aug 2020
4.3%
4.3%
5.0%
Jul 2020
5.0%
3.0%
3.5%
Jun 2020
3.5%
1.9%
2.5%
May 2020
2.5%
1.3%
1.2%
Apr 2020
1.2%
2.5%
1.5%
Mar 2020
1.5%
3.6%
Feb 2020
3.6%
3.2%
Jan 2020
3.2%
2.6%
Dec 2019
2.6%
3.1%
Nov 2019
3.1%
2.4%
Oct 2019
2.4%
2.6%
Sep 2019
2.6%
2.6%
Aug 2019
2.6%
1.5%
Jul 2019
1.6%
2.6%
Jun 2019
2.6%
1.8%
May 2019
1.8%
2.2%
Apr 2019
2.2%
3.2%
Mar 2019
3.2%
3.0%
Feb 2019
3.0%
3.6%
Jan 2019
3.6%
2.8%
Dec 2018
2.8%
2.0%
Nov 2018
2.0%
2.4%
Oct 2018
2.4%
2.7%
Sep 2018
2.7%
2.2%
Aug 2018
2.2%
2.2%
Jul 2018
2.2%
1.5%
Jun 2018
1.5%
1.0%
May 2018
1.0%
-1.0%
Apr 2018
-1.0%
-2.2%
Mar 2018
-2.2%
-2.3%
Feb 2018
-2.3%
-2.2%
Jan 2018
-2.2%
-1.1%
Dec 2017
-2.1%
-0.5%
Nov 2017
-0.5%
0.7%
Oct 2017
0.7%
1.5%
Sep 2017
1.5%
3.1%
Aug 2017
3.1%
4.8%
Jul 2017
4.8%
6.3%
Jun 2017
6.3%
8.3%
May 2017
8.3%
10.7%
Apr 2017
10.7%
11.7%
Mar 2017
11.7%
13.0%

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