Hemnet’s Buyer Barometer July 2024: Lower price expectations but levels remain high
In Hemnet’s Buyer Barometer for July, 47 percent of buyers stated that they believe property prices will rise in the next six months. That is 1 percentage point lower than the corresponding survey in June and represents a turnaround after seven consecutive months of an increase in the proportion of buyers who believe prices will rise.
The share of buyers who believe that prices will fall is 11 percent, which is a record low. Overall, this means a net difference (the difference between those who believe in increasing and decreasing prices) of +36 percentage points, a decrease of 1 percentage points after seven consecutive months with increasing price expectations.
Percentage of buyers expecting:
Increasing prices: 47.2 percent (48.4% in the previous month)
Decreasing prices: 10.8 percent (11.0% in the previous month)
Unchanged prices: 41.9 percent (40.6% in the previous month)
Erik Holmberg, market Analyst at Hemnet, commented:
“Slightly fewer buyers now believe in increasing property prices now in July, but the price expectations are still at historically high levels and record few buyers believe in decreasing property prices. We are now heading for a quieter period in the market over the summer before things pick up again in mid August. Last year we pointed out that the increasing influx of new properties for sale could depress prices, which was also the case in the autumn. This risk is also present this year if many sellers who have been waiting start to act and demand does not keep up. But I would say that this risk is lower this year which is reflected in the high price expectations”.
Hemnet’s Buyers’ Barometer went out to 2,103 respondents between 1 and 3 Juli.
For more information, please contact:
Contact
Erik Holmberg, market analyst Hemnet
M: +46 72-55 88 050
E: erik.holmberg@hemnet.se
About Hemnet Buyers’ Barometer
The Buyer’s Barometer is a survey that asks Hemnet visitors who plan to buy a home in the next six months, “How do you think property prices will develop where you live in the next six months?”. The survey has at least 600 responses and is conducted monthly. The first survey was conducted in September 2017.
About Hemnet
Hemnet operates the leading property platform in Sweden. The company emerged as an industry initiative in 1998 and has since transformed into a "win-win" value proposition for the housing market. By offering a unique combination of relevant products, insights and inspiration, Hemnet has built lasting relationships with buyers, sellers, and agents for more than 20 years. Hemnet shares a mutual passion for homes with its stakeholders and is driven by being an independent go-to-place for people to turn to for the various housing needs that arise through life. This is mirrored in the Company’s vision to be the key to your property journey, supplying products and services to improve efficiency, transparency and mobility on the housing market. Hemnet is listed on Nasdaq Stockholm (‘HEM’).
