Swedish home prices fell 0.6% in Nov

[STOCKHOLM] Swedish home prices fell by 0.6 per cent in November from October but were up 15.0 per cent from a year earlier, the Nasdaq OMX Valueguard-KTH Housing Index (HOX) showed on Monday.

Prices for apartments increased 17.8 per cent while single-family house prices rose 13.4 per cent on the year.

Both apartment and house prices fell on the month, the first decline since June.

The HOX index is based on a statistical model that compensates for different types of homes sold during various periods to give a better picture of underlying price trends.

A boom in Swedish home prices since the late 1990s has driven up household debt to some of the highest levels in Europe.

REUTERS