House prices following Covid-19: A possible shift in demand?

Abstract

In this thesis, we study the house price growth in 2020 for different dwelling types and municipalities and compare it with its growth in 2015. The two years had one thing in common: both experienced a drop in the policy rate. We look at Oslo, and municipalities just outside Oslo, to see if there was a change in the geographical distribution in house price growth. We analyze how house prices have developed using a quantitative approach by studying the housing market between 2014 and 2021. Our research argues that there is an increased demand for detached houses in 2020 compared to 2015. Additionally, we discover that people have not moved out of Oslo, as analysts predicted, following the outbreak of Covid-19.