The latest building statistics released by the Norwegian authorities reveal a significant change in the number of building start permissions for dwellings. From April to May 2023, there has been a notable increase of 44.5%. This data reflects a positive trend in the country’s construction sector, indicating a rise in housing development projects.
The monthly registered building permissions, when seasonally adjusted, trended positively with a 44.5% increase for dwellings. However, there was a slight decrease of -3.0% in the trend for the same category. In terms of total numbers, 1,515 building permissions were registered in May 2023, contributing to a total of 25,973 permissions granted in the last 12 months. Despite the overall positive trend, there has been a 14.3% decrease in building permissions compared to the previous 12-month period.
Regarding utility floor space, there has been a 35.0% increase for dwellings, albeit with a marginal decrease of -2.8% in the trend. The recorded floor space for dwellings stands at 191.8 thousand square meters, constituting a total of 3,287.7 thousand square meters within the last 12 months. This represents a decrease of 15.1% compared to the previous 12-month period.
Conversely, other buildings have experienced a modest decline in permissions, with a decrease of -0.9% in the trend and -1.3% in the total number of permissions. The recorded figure for other buildings in May 2023 was 385.5 thousand square meters, resulting in a cumulative total of 5,777.1 thousand square meters over the past 12 months. However, this category showed a slight increase of 0.8% in permissions compared to the previous 12-month period.
The recent surge in building start permissions for dwellings indicates a positive growth trajectory for the Norwegian construction industry. It reflects the ongoing efforts to address the housing demand and provide adequate housing solutions for the population. The authorities will continue to closely monitor the building sector’s progress and provide updates on the country’s construction statistics.