Hva påvirker boligprisene i Stavanger kommune?

Abstract

The Norwegian housing market operates under the influence of numerous factors, which impact its stability and expansion. As the oil capital of Norway, Stavanger holds significant influence over the nation's economy. This thesis seeks to illuminate the intricate workings of Stavanger's housing market, aiming to interpret the key forces driving its behavior. Our analysis delves deep into the fundamental drivers of Stavanger's housing market, with a focus on identifying the primary factors that drive fluctuations in housing prices. Through this exploration, we aim to uncover the underlying influences on the housing market and their contributions to price dynamics.

We embarked on our research journey by engaging ourselves in various housing market theories and conducting a thorough review of existing literature, including numerous articles and dissertations focused on the Norwegian housing market. This extensive review provided us with valuable insights and guided our research direction. Drawing inspiration from the model developed by Jacobsen & Naug (2005), we selected our explanatory variables, which encompass income, interest rate, unemployment, finished housing units, and population growth. Additionally, we introduced the oil prices variable, not previously explored by Jacobsen & Naug, to examine its influence on the housing market dynamics specifically in Stavanger.

Our findings indicate that income levels, interest rates, oil prices, and population growth serve as key factors influencing the housing market in Stavanger. Interestingly, our analysis reveals that unemployment rates and the rate of finished housing units do not exert a significant impact on housing prices in Stavanger, contrary to expectations. However, further investigation is needed for these variables as their behavior diverges from established research trends.

The Norwegian housing market operates under the influence of numerous factors, which impact its stability and expansion. As the oil capital of Norway, Stavanger holds significant influence over the nation's economy. This thesis seeks to illuminate the intricate workings of Stavanger's housing market, aiming to interpret the key forces driving its behavior. Our analysis delves deep into the fundamental drivers of Stavanger's housing market, with a focus on identifying the primary factors that drive fluctuations in housing prices. Through this exploration, we aim to uncover the underlying influences on the housing market and their contributions to price dynamics.

We embarked on our research journey by engaging ourselves in various housing market theories and conducting a thorough review of existing literature, including numerous articles and dissertations focused on the Norwegian housing market. This extensive review provided us with valuable insights and guided our research direction. Drawing inspiration from the model developed by Jacobsen & Naug (2005), we selected our explanatory variables, which encompass income, interest rate, unemployment, finished housing units, and population growth. Additionally, we introduced the oil prices variable, not previously explored by Jacobsen & Naug, to examine its influence on the housing market dynamics specifically in Stavanger.

Our findings indicate that income levels, interest rates, oil prices, and population growth serve as key factors influencing the housing market in Stavanger. Interestingly, our analysis reveals that unemployment rates and the rate of finished housing units do not exert a significant impact on housing prices in Stavanger, contrary to expectations. However, further investigation is needed for these variables as their behavior diverges from established research trends.