Bloomberg News

Sweden House Prices Stagnate in October Quarter Amid Debt Crisis

November 18, 2011

Nov. 17 (Bloomberg) -- Swedish house price gains came to a halt in the three months through October amid signs of slowing economic growth, giving the central bank scope to cut interest rates as Europe’s debt crisis deepens.

Nationwide prices were unchanged from the previous quarter as they fell in the three biggest metropolitan areas of Stockholm, Gothenburg and Malmoe, Statistics Sweden said today. The average price of a one- or two-dwelling building fell to 1.82 million kronor ($268,270) in October from 1.98 million kronor in September, the office said.

Sweden’s central bank kept its main rate unchanged at 2 percent for a second consecutive meeting last month and signaled fewer increases to safeguard an expansion in the largest Nordic economy as European leaders struggle to contain the debt crisis.

--Editors: Jonas Bergman, Tasneem Brogger

To contact the reporter on this story: Johan Carlstrom in Stockholm at jcarlstrom@bloomberg.net.

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net


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