Macro-economic Data

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A. Demography and Macroeconomy

A.1 Population
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Total population5.28 million5.23 million5.19 million
WDI
A.1.1
Total number of households2.35 million2.35 million2.32 million
Statistics Norway
A.1.2
Average household size2.192.192.20
Statistics Norway
A.1.3
Urban population (% of total)80.99% of total80.73% of total80.47% of total
WDI
A.1.4
Urban population growth (annual %)1.22%1.17%1.32%
WDI
A.1.5
A.2 Economy
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
GDP, current prices (U.S. dollars)396,457 USD (millions)370,449 USD (millions)386,579 USD (millions)
WEO
A.2.1
GDP based on PPP valuation of country GDP (Current international dollar)380,006 USD (millions)364,439 USD (millions)356,060 USD (millions)
WEO
A.2.2
GDP per capita, current prices (U.S. dollars)74,940.62 USD 70,391.57 USD 74,264.43 USD
WEO
A.2.3
GDP based on PPP per capita GDP (Current international dollar)71,830.88 USD 69,249.46 USD 68,401.62 USD
WEO
A.2.4
GDP, constant prices (Percent change)1.81%1.02%1.61%
WEO
A.2.5
Inflation, end of period consumer prices (Percent change)1.63%3.47%2.33%
WEO
A.2.6
GDP, deflator (Index)102.1896.5397.70
WEO
A.2.7
Consumer price index114.55112.47 108.61
WDI
A.2.8
GINI Index  25.90
WDI
A.2.9
Median national annual household income 75,630.95 USD 71,271.28 USD
Statistics Norway
A.2.10
Growth in urban household income (%/year)A.2.13
Employment (% of total laborforce)A.2.14
Unemployed4.2%4.75%4.37%
Statistics Norway
A.2.14.3
Interest Rates:A.2.15
Central bank lending/discount rate  1.5%
IFS
A.2.15.1
Yield on 10-year Government bond1.64%.84%.97%
Norges Bank
A.2.15.3
Average bank deposit rate  2.28%
IFS
A.2.15.4
Lending rate  4.28%
IFS
A.2.15.5
B. Housing Market
B.1 Housing Stock: Production, Transactions
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Number of dwelling units:B.1.1
Total2.52 million2.49 million2.45 million
Statistics Norway
B.1.1.1
Percentage of vacant units  8.72% of total
Statistics Norway
B.1.2
Characteristics of housing stock:B.1.3
Tenure in urban areas (%):B.1.4
Owner-occupied units82.6% of total82.7% of total82.8% of total
EuroStat
B.1.4.1
% of owner units with a mortgage61.3% of total62.3% of total61.9% of total
EuroStat
B.1.4.2
Private rental units11.6% of total10.5% of total10% of total
EuroStat
B.1.4.3
Other forms of tenure 5.8% of total6.8% of total7.2% of total
EuroStat
B.1.4.5
Estimated Number of units completed/yearB.1.5
Number of recorded urban housing transactions/year114382121578119681
HypoStat
B.1.6
B.2 Housing Prices and Cost for Urban Areas or Capital City
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Median urban house price in USD:B.2.1
Median house price to median annual HH income:B.2.2
Urban  3.5
Norges Bank Economic Commentaries 2017
B.2.2.1
Capital city  4.1
Norges Bank Economic Commentaries 2017
B.2.2.2
Annual average % change in median house prices:B.2.3
Yearly Rate-.9%-2.3%5.2%
HypoStat
B.2.3.1
M2 construction cost for median quality houseB.2.4


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Notes: Amendments added to the Financial Institutions Act in 2013
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: Pre-tax income
Notes: Pre-tax income
Notes: Pre-tax income
Notes: Pre-tax income
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: 1800 USD Fee plus the cost of legal services
Notes: 1800 USD public fee plus the cost of legal assistance
Notes: 1800 USD public fee plus the cost of legal assistance
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: Amendments added to the Financial Institutions Act in 2013
Notes: Amendments added to the Financial Institutions Act in 2013
Notes: Amendments added to the Financial Institutions Act in 2013
Notes: Amendments added to the Financial Institutions Act in 2013  
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices 
Notes: can finance all or parts of the house cost
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate 
Notes: Converted from EURO to USD with end of year exchange rate  
Notes: Entire Country
Notes: Entire Country
Notes: Entire Country
Notes: Entire Country
Notes: Entire Country
Notes: Entire Country
Notes: First introduced
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank Loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank Loans
Notes: Inter-bank loans
Notes: Inter-bank Loans
Notes: Inter-bank Loans
Notes: Inter-bank loans.
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages 
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities 
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure, note that 80% lives in Urban Areas
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015) 
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank; funded by the central government, in charge of housing subsidies and grants, also makes market rate loans
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: Percentage of population, not dwelling units
Notes: Percentage of population, not dwelling units
Notes: Percentage of population, not dwelling units
Notes: Pre-tax income
Notes: Pre-tax income
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: The Financial Supervisory Authority of Norway  
Notes: The Financial Supervisory Authority of Norway; government agency responsible for oversight of financial institutions
Notes: The Financial Supervisory Authority of Norway; government agency responsible for oversight of financial institutions
Notes: The Financial Supervisory Authority of Norway; government agency responsible for oversight of financial institutions
Notes: The Financial Supervisory Authority of Norway; government agency responsible for oversight of financial institutions
Notes: The report does not mention whether the Housing Bank is included in the data
Notes: The report does not mention whether the Housing Bank is included in the data
Notes: The report does not mention whether the Housing Bank is included in the data
Notes: The report does not mention whether the Housing Bank is included in the data 
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477