LBS Nord purchase price index for Lower Saxony / Corona slows down
Home price increase (PHOTO)
Hanover (ots) – Despite Corona, Hanover remains an expensive place for
Homebuyers: Will be used for half of all family homes
requires at least around 670,000 euros. That is the highest standard price among
all districts and independent cities in Lower Saxony. However, they have
As a result of the Corona crisis, house prices have not increased quite as much as in the
The analysis of home prices in Lower Saxony in the second quarter of 2020 has
the empirica institute on behalf of LBS Norddeutsche Landesbausparkasse Berlin
– Hanover (LBS Nord) created. For regular examinations
the real estate experts evaluate the offers for sale in the Lower Saxony
Daily newspapers and in online portals.
For a used single-family home, an average household needs to be
Hannover currently have around 15 annual net incomes. Much higher
Amounts are required in the upper price segment. A quarter of all houses should
cost at least 1.15 million euros.
The prices in the state capital have increased by an average of 9 per year since 2017
Percent increased – but recently significantly less: Compared to 2019 (3rd quarter)
Homes were only 6 percent more expensive. A similar tendency –
due to the corona consequences – is in numerous counties and cities
Watch Lower Saxony.
The second highest home prices in Lower Saxony can be found in Osnabrück.
The standard price here is 481,500 euros, which is equivalent to that
The equivalent of 11.4 annual local household income.
To the more expensive regions in Lower Saxony with medium asking prices
The district of Harburg (460,000 euros) also includes 400,000 euros
Braunschweig (450,000 euros) and the area around Hanover (425,000 euros). For a
used family home needs an average household in these
Raise circles around ten annual incomes.
With the exception of Wolfsburg, they have been in all of Lower Saxony’s districts since 2017
and independent cities used houses more expensive. On average
prices increased by 9.8 percent per year. It fell almost twice as high
Price increase in the Rotenburg / Wümme district (+ 18% per year). Also the
Districts Wesermarsch (+ 17% per year), Goslar (+ 16% per year) and Göttingen
(+ 15% per year) are well above the average.
Lower Saxony homebuyers continue to drive cheapest in the district
Holzminden. The standard price for a used family home is here
135,000 euros, so that only 2.8 local household income for it
become due. A quarter of all houses are even for a maximum of 86,500 euros
offered. There are also buyers in the districts of Lüchow-Dannenberg and Northeim
comparatively cheap offers for 160,000 or 178,000 euros.
“At the moment we are seeing a little respite in real estate prices”,
explains Dr. Rüdiger Kamp, CEO of LBS Nord. “That can be
but change quickly. The supply on the real estate market is still scarce,
and the demand for home ownership will continue to grow. Because just through that
Experiences of the past few months have made many people aware of which
great value enough space in your own four walls and your own garden
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OTS: LBS Norddeutsche Landesbausparkasse Berlin – Hanover