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Swedes show confidence in housing market

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13:33 CEST+02:00
Half of Sweden's households expect house prices to increase over the coming year, with fewer forecasting falls, a new survey shows.

The house price indicator survey from Swedish bank SEB shows that 50 percent of households expect house price appreciation over the coming year, in comparison to 49 percent in March.

The survey also showed that fewer expect prices to fall - only 15 percent in comparison to 20 percent in March.

"Households are optimistic about their personal finances at present and therefore fewer expect falling house prices. There are several explanations for this - the economy continues to strengthen, unemployment is not as ominous as previously feared and households expect low interest rates for a while yet. Furthermore the stock market has risen sharply in March," said SEB's Gunilla Nyström in a statement.

The indicator shows that households are counting on interest rates of an average 1.03 percent at this time next year, in comparison to a 0.88 percent projection last month, with fewer households considering fixed-term mortgages.

The SEB survey is conducted by Demoskop and has been carried out every month since March 2003. This survey, involving 1,004 respondents, was conducted from March 31st to April 7th 2010.

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