Hemnet’s Buyer Barometer January 2024: Significant increase of price expectations
3 January 2024
Of the property buyers surveyed as a part of Hemnet’s Buyers’ Barometer in January, 28 percent stated that they believe property prices will increase in the upcoming six months. This is 5 percentage points more than in the corresponding survey in December. The proportion of buyers who believe prices will increase is now the highest it has been since April 2022, the month before the Swedish central bank began to raise the policy rate.
At the same time, the proportion of buyers who believe property prices will decrease has dropped by 9 percentage points. From 31 percentage points in December to 22 now in January. Overall, this means a net difference (the difference between those who believe in increasing and decreasing prices) of +6 percentage points. This is 14 percentage points more than in December and for the first time since April 2022, more buyers believe in increasing than decreasing prices.
Percentage of buyers expecting:
Increasing prices: 27.8 percent (23.3% in the previous month)
Decreasing prices: 22.1 percent (31.4% in the previous month)
Unchanged prices: 50.1 percent (45.3% in the previous month)
Price expectations among buyers increased particularly in Stockholm. Stockholm is now the region in which price expectations are the strongest, with a net difference of +15 percentage points. This compares to -7 percentage points in December and is the highest level since February 2022.
In the survey, 47 percent of respondents stated that they were planning to buy a property in the upcoming six months. This is the highest buy intention recorded in the six years in which the survey has been done.
Erik Holmberg, Market Analyst at Hemnet, commented:
“This is a significant increase in buyers’ price expectations. For the first time since the central bank began raising the policy rate from zero in April 2022, more buyers believe property prices will increase than decrease. The fact that we also have record high buy intentions should also be seen as a positive sign for activity in the market. Buyers are taking note of the fact that the policy rate has now probably peaked. This indicates a higher motivation to act and reinforced the picture that the period of falling prices is now over”.
Hemnet’s Buyers’ Barometer went out to 2,308 respondents between 1 and 3 January.
For more information, please contact:
Contact
Erik Holmberg, market analyst Hemnet
M: +46 72-55 88 050
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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