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More Swedish people believe in falling house prices

Monday, 07 November 2011
Just over four in ten households believe in falling house prices and more than a quarter think house prices will rise, according to the a new house price indicator carried out by the banking group, SEB which also shows a negative trend for the fourth consecutive month.

The indicator, which shows the difference between the percentage of households who believe in rising prices and the proportion who believe in falling prices, rose to -17 in November from -19 the previous month.

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Households believe that the repo rate will remain around 2.35 percent for one year and five percent are planning to tie their mortgage rates.

The proportion who believes in falling prices was 43 percent against 47 percent a month ago. The proportion who believes in rising prices is 26 percent compared to 28 percent in the past.
"House price indicator has stabilized at a slightly negative level. Households are set to see a weaker economy and continued low interest rates, but probably not feel any serious increase in concern about unemployment, "says SEB's private economist Gunilla Nyström in a statement. She adds that indicator confirms the picture of a slightly falling housing market.
By Scancomark.se Team




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