Published May 3, 2024 at 10:35 a.m.
Economics. After several years of rampant bidding, the majority of housing sales now land close to the starting price, according to the Swedish Real Estate Agency's brokerage panel Bostadsutsikten.
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After a sluggish housing market the last two years on, sellers and buyers seem to have found each other.
Just over 60 percent of the brokers state that the final price on sale will be the same as the starting price.
The result indicates that a balance has been reached and sellers and buyers have an easier time finding each other after a long period of different expectations of the price picture. 21 percent of the real estate agents answer that the final price has decreased and about 18 percent that it has increased in relation to the starting price, which reflects that there is a certain variation between objects, depending on condition and location, and also where geographically it is located in the country.
– Many brokers are currently seeing an increased interest in viewings and a reduction in the sales time of homes. In more and more places, the bidding has also started again, and in recent months we have seen a slight rise in prices, which first took off in Stockholm's inner city and has now spread to Greater Stockholm and Greater Gothenburg, where the development in the rest of the country seems to follow suit in the future, says Erik Wikander, vice president at Svensk Fastighetsförmedling.
Svensk Fastighetsförmedling expects a fairly stable price picture going forward, which may, however, vary somewhat on a monthly basis.
– There is perhaps a hope in many about rapid price increases, but the economy does not currently have the necessary conditions for that. Even though inflation is falling and interest rate cuts are being implemented, both housing and living costs are now significantly higher than they were before the pandemic, says Erik Wikander in a dispatch.
However, an upcoming interest rate cut is an important signal for the housing market, according to Erik Wikander.
– That the Riksbank lives up to the expected interest rate cut next week is important, perhaps above all psychologically, for the entire industry and all the thousands of people who both want, and based on changed life situations, need to change their place of residence. An interest rate cut in May would give the market another boost as more people would dare to take the step towards a new home.