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Andreas Wallström, Research Analyst at Nordea Markets, notes that in August, Sweden’s home prices rose  by 0.5% on the month (Nordea’s own seasonally adjusted figure) and declined by 4.7% over the year according to data from HOX Valueguard.

Key Quotes

“This was marginally below our forecast at 1.0% m/m and -4.5% y/y. Apartment prices in Stockholm increased by 0.6% m/m (seasonally adjusted) and decreased by 7.4% y/y. The overall trend of stable prices  in 2018 remains intact  so far.”

“Yet, the sky is not all clear. The number of  transactions  dropped markedly in August.”

“The drop in transactions may reflect a continued uncertainty or anxiety in the market. However, we better await the September figures before drawing any firm conclusions where the market is heading as activity usually picks up markedly after the summer.”

“The  supply of homes  remains relatively high, especially for newly built homes, but has not picked up further in recent weeks.”

“In sum, we continue to see  stable prices ahead, in line with development so far in 2018.”

 

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