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Swedes show confidence in housing market

Peter Vinthagen Simpson · 12 Apr 2010, 13:33

Published: 12 Apr 2010 13:33 GMT+02:00

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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.

Story continues below…

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.

Peter Vinthagen Simpson (news@thelocal.se)

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Your comments about this article

08:39 April 13, 2010 by voiceofreason
Wishful thinking, houses are still overpriced because they never really adjusted in value at the depth of the recession.
15:19 April 16, 2010 by the fonz
There is the obvious supply/demand factor in play in Sweden which will hold prices up. As long as there is not sudden and sharp rate rise, I see no reason for declining prices. Most probably the rate will flatten out and remain stable.

The US problem was exagerrated because huge loans were given to anyone regardless of ability to pay, also the UK has had a rampant market in terms of house price inflation but except from minor adjustments - no crash even though they have such a huge deficit.

Sweden is better placed but the banks must be responsible in terms of LTV to ensure it stays this way. 90% isn't that bad in real terms.
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