Following strong growth in the first half of last year, housing investment has gradually leveled off. According to the research company "QNA", housing investment in the first quarter of 2012 was 1,9% lower than in the previous quarter. But the level of housing investment is relatively high in a historical perspective.
However, a 22% surge in housing investment last year brought investment up to a historically high level. As a result, investment activity will be at a relatively high level even without further investment growth in the current year, according to "QNA" expert’s view.
With prospects of a continued high rise in house prices, strong real income growth, low real interest rates and rapid population growth, housing investment will pick up again in the course of the current year already. Thus "QNA" experts expect housing investment to increase by 3,6% this year and around 6% annually for the next three years.
Source: http://www.ssb.no/english/subjects/08/05/10/es/201202/nor-ec.pdf