• norsk
    • English
  • English 
    • norsk
    • English
  • Login
View Item 
  •   Home
  • Norges Handelshøyskole
  • Thesis
  • Master Thesis
  • View Item
  •   Home
  • Norges Handelshøyskole
  • Thesis
  • Master Thesis
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

Long-term effects in the Norwegian housing market : an empirical analysis

Haltvik, Harald; Bendiksen, Stian Øya
Master thesis
Thumbnail
View/Open
haltvik_bendiksen2012.pdf (5.752Mb)
URI
http://hdl.handle.net/11250/169401
Date
2012
Metadata
Show full item record
Collections
  • Master Thesis [4657]
Abstract
In this thesis we have analysed the Norwegian housing market. On the basis of our

examination of possible factors affecting the housing market, we have estimated a model to

explain the Norwegian housing prices. Especially, we wanted to test if the state of the

economy, categorized by the different phases in a business cycle, had a significant effect on

the housing prices We have estimated a short-term dynamic and a long-term solution, where

we show the different factors’ affect on housing prices.

We start by presenting the development in the Norwegian economy, and the peculiarities of

the housing market. To create a basic understanding of housing models and previous

research, we present the two main models for housing prices conducted in Norway the last

15 years. We then presented the variables we believed to affect the housing prices and the

statistical methods used. The final model was estimated and tested, and proved to be good at

both explaining and predicting the housing prices in the period from 1986 to 2011.

In our final model, we could not find any significant effects from the different states in the

business cycle. We found that the short-term dynamic in the housing market are affected by

the change in housing prices in earlier periods, and the long-term solution is affected by the

development in households’ real disposable income, housing stock and real interest rate. We

also tested the models ability to predict housing prices. In general the predictions were fairly

decent, which indicates that the variables have a consistent economic grounding throughout

the period. There will although be problems with using the model to predict future housing

prices, since the development in the variables are uncertain and often subject of revising in

retrospect.

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit
 

 

Browse

ArchiveCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsDocument TypesJournalsThis CollectionBy Issue DateAuthorsTitlesSubjectsDocument TypesJournals

My Account

Login

Statistics

View Usage Statistics

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit