House prices decrease further around Copenhagen

In a previous post I showed a graph illustrating the development of the average price for an apartment or house in and around Copenhagen* from 1992-2010. Now numbers until the first quarter of 2013 are available. In the old graph, the timeline stopped in 2010 showing a new increase in housing prices after the fall 2007 and 2009. Looking at the newest numbers suggests however not an increase, but actually a new fall in prices in the metropolitan region since 2010. The only exception is the urban core, accounting for about a third of all housing stock in the region. However, although prices in the core seem to be back at the level of 2006, this means actually still a decrease when correcting for inflation and a substantial different development to what could be expected from the path prices went before the crisis.

Data source: www.statistikbanken.dk/ejen5

* The Copenhagen metropolitan region encompasses the islands of Zealand (where Copenhagen is located), Lolland and Falster and several smaller islands. Have a look at one of my previous posts on the land use in the region or the administrative/population distribution.

** The data break in 2006 is caused by a structural reform undertaken in Denmark in 2007, leading to new statistical regions. However, most of them are comparable with the old counties.

~ by landblend on 29/07/2013.