Hemnet’s Buyer Barometer October 2023: Continuously lower price expectations
In Hemnet’s Buyers’ Barometer for October, homebuyers’ price expectations fell further. Among the buyers surveyed in October, 22 percent believed property prices would rise in the upcoming six months. This is a decrease of 2 percentage points compared to September.
At the same time, the share of buyers who believe in falling property prices increased by 2 percentage points. From 36 percent in September to 38 percent now in October. Overall this means that the net figure, the difference between those who believe in rising and falling prices, is -17 percentage points. The lowest level since March.
Percentage of buyers expecting:
Increasing prices: 21.6 percent (24.2% in the previous month)
Decreasing prices: 38.5 percent (36.4% in the previous month)
Unchanged prices: 39.9 percent (39.4% in the previous month)
Regionally, price expectations have now fallen the most in Stockholm and Gothenburg, the regions where price expectations were highest in the summer. Now in October the net figure is -22 and -26 in Stockholm and Gothenburg respectively.
Erik Holmberg, Market Analyst at Hemnet, commented:
“It was expected that price expectations would fall in October due to the increase in the policy rate by the Central Bank a few weeks ago. We have seen that previous increases in the policy rate have had a major impact on the price expectations. The shrinking price expectations in recent months have not yet led to a new phase of falling property prices. But the risk of falling prices increases, if the policy rate is raised further”.
Hemnet’s Buyers’ Barometer went out to 2,472 respondents between 1 and 3 October.
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’).
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