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Swedish home prices seen heading up further over next year -SEB

·1 min read

STOCKHOLM, May 10 (Reuters) - An index tracking housing price expectations in Sweden rose again in May, hitting its highest in almost four years, banking group SEB said on Monday.

The index, which measures the balance between households who expect rising prices and those seeing falling prices over the coming year, hit 66 points in May, up from 63 points in April.

The bank said only 4% of respondents to its survey saw prices falling over the coming year, the lowest-ever proportion.

The highest-ever index was 72 points, in September 2015.

House prices have surged in recent months, despite the ongoing pandemic with a range of factors behind the increase.

Interest rates are low and are widely expected to remain so for several years, while the emerging work-from-home culture has led to many households putting more focus on their home. (Reporting by Simon Johnson; Editing by Christopher Cushing)