Several first-time buyers in the housing market

In the first quarter of this year, 9.212 people aged 20 to 39 bought their first home. The number of first-time buyers has increased.

The number is the third highest in ten years in a first quarter, according to an analysis from the Norwegian Real Estate Agency and Ambita. In the same period last year, the number was 8,474.

The number of first-time buyers tend to be lower in the spring than in the fall. This is because many people buy their first home after completing their education and starting a new job.

In the larger cities in Norway, the average age of first-time buyers is mostly between 27 and 29 years. In Bærum, the average age is over 30 years. Also in Oslo, the average age is higher than elsewhere. This can be seen in the context of high house prices.

– It is gratifying to note that a good balance between supply and demand has opened the market to several first-time buyers. If the moderate price trend continues through 2019, we probably get the highest number of first-time buyers in ten years, says CEO Carl OP. Engraving in the Norwegian Real Estate Association.

He says the threshold for first-time buyers has been lowered since more homes have been built.

– When many new homes are completed, the pressure decreases and prices flatten, says Geving.

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