Sales of dwellings in housing companies slowed down in July to September 2022

Prices of old dwellings in housing companies fell slightly in Greater Helsinki

In September 2022, prices of old dwellings in housing companies fell by around one per cent in Greater Helsinki compared to the previous year. Among large towns, prices rose most in Turku and Oulu. Prices fell by 1.5 per cent from the previous year in Helsinki and by 0.6 per cent outside large towns.

In the July to September period of 2022, prices rose in the whole country by 0.3 per cent compared to the previous year and fell by 1.7 per cent from the previous quarter. In Greater Helsinki, prices went down by 0.8 per cent from one year back and by 2.9 per cent from the previous quarter. In the six largest towns prices fell by 2.1 per cent from the previous quarter but remained on level with twelve months back. In Helsinki, prices fell by 1.5 per cent from one year ago and by 3.8 per cent from the previous quarter. In Espoo and Vantaa, prices remained on level with the previous year, in other large towns prices rose compared to the corresponding period in 2021.

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Of the regions, prices rose by most in South Savo, Central Ostrobothnia and Kainuu in the third quarter of the year. Prices fell most in North Karelia, Ostrobothnia and Satakunta.

The sales of old dwellings in housing companies through real estate agents went down by 14 per cent in the third quarter of 2022 and by 18 per cent in September from the corresponding period in 2021. Compared to 2020, ten per cent fewer sales of dwellings in housing companies were made in July to September 2022.

Prices of old dwellings in housing companies fell for smaller dwellings

Prices of dwellings in terraced houses rose by 1.8 per cent in the whole country from the previous year and remained almost unchanged from the previous quarter. The prices of dwellings in blocks of flats fell by around two per cent from the previous quarter but remained on level with 2021.

Prices of one-room dwellings fell in different parts of Finland, while those of family dwellings rose. In July to September, prices of three-room and larger dwellings went up by 1.2 per cent in large towns and by 0.6 per cent in the rest of the country. Prices of one-room dwellings in blocks of flats fell by 3.9 per cent in large towns compared to the corresponding period in 2021.

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Prices of new dwellings in housing companies rose despite the slowing down of sales

Compared to the corresponding period of the year before, prices of new dwellings in housing companies rose in the third quarter of 2022 by 5.8 per cent in Greater Helsinki and by 6.3 per cent in the rest of Finland. The prices of three-room and larger dwellings in blocks of flats and terraced houses rose more than dwellings in small blocks of flats. In the whole country, there were 47 per cent fewer sales of new dwellings than one year earlier in the third quarter.

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