Housing Price Index (HPI) s.a. m/m reflects a seasonally adjusted percentage change in average residential property prices in the reported month compared to the previous month. Information on residential property transactions is collected from state land registries and statistics from the largest Norwegian mortgage lenders.
The rise in house prices, among other effects, has a significant impact on the growth of household wealth and, consequently, on the purchases of goods and services. It is seen as a favorable factor for the country's economy, since it indicates national currency inflation growth. Higher than expected HPI growth can have a positive effect on NOK quotes.