Prices of old dwellings on wane in Q2

Prices of old dwellings in housing companies decreased by 3.7 per cent year-on-year in the second quarter of 2024 but increased by 1.0 per cent compared with the early part of the year, according to Statistics Finland.

In the second quarter of 2024, prices of old dwellings in housing companies declined by 5.1 per cent in Greater Helsinki from the previous year.

Prices went down by 2.4 per cent outside Greater Helsinki.

Prices of old dwellings in blocks of flats went down in the whole country by 4.3 per cent and prices of old dwellings in terraced houses by 2.4 per cent compared to the year before.

Compared with the early part of 2024, prices of old dwellings in housing companies rose slightly in April to June in large towns excepting Vantaa.

In the second quarter of 2024, altogether five per cent more sales of old dwellings in blocks of flats and terraced houses were made through real estate agents than one year earlier.

In April to June 2024, prices of dwellings in housing companies declined by 4.6 per cent in large towns and by 2.0 per cent in the rest of the country from one year back.

Of large towns, prices fell most in Vantaa (7.6%) and Helsinki (5.1%).

Of the regional centres, prices of old dwellings in housing companies went up from the previous year in Kokkola (8.8%), Kotka (4.0%), Rovaniemi (2.2%) and Vaasa (0.9%).

In the other regional centres prices fell, most in Mikkeli (8.3%) and Pori (7.8%).

In the second quarter of 2024, prices of old dwellings in blocks of flats fell most for one-room flats, the prices of which went down by 5.4 per cent in the whole country.

Prices of two-room flats went down by 4.6 per cent and those of family dwellings by 3.6 per cent.

Prices of old dwellings in terraced houses decreased less than those of dwellings in blocks of flats (2.4%).

For all dwelling types, prices of old dwellings in housing companies fell most in Greater Helsinki.

Prices of one-room flats declined by 6.6 per cent in Greater Helsinki, those of two-room flats by 5.6 per cent and those of family dwellings by 4.2 per cent.

The prices of old dwellings in terraced houses decreased by 4.9 per cent.

Outside large towns, prices of dwellings in blocks of flats went down by 3.2 per cent and those of dwellings in terraced houses by 0.6 per cent.

In the second quarter of 2024, prices of new dwellings in housing companies decreased by 6.1 per cent in the whole country compared to the corresponding period of the previous year.

In all, 12.4 per cent fewer sales were made than one year earlier.

Prices of new dwellings fell by 9.8 per cent in Greater Helsinki. In the rest of the country, prices of new dwellings in housing companies declined by 3.6 per cent from one year back.

Prices of dwellings in terraced houses went up by 0.8 per cent and prices of dwellings in blocks of flats went down by 7.9 per cent in the whole country.