November 13, 2017 / 8:17 AM / 3 years ago

Confidence in Swedish property market slumps - SEB indicator

STOCKHOLM, Nov 13 (Reuters) - Swedes turned less optimistic on the housing market in November, a report showed, after figures suggesting a long run of price rises may be coming to an end amid signals that authorities will squeeze mortgage borrowers to reduce the risk of a crash.

Monday’s Housing Price Indicator from banking group SEB posted its second biggest drop ever, declining by 39 points and lagging only a steeper fall 10 years ago.

According to SEB, 43 percent of households expect prices to rise over the coming year, down from 66 percent the previous month. The number expecting prices to decline doubled to 32 percent.

“At current levels, the Indicator confirms a slowdown in the Swedish housing market but does not yet signal outright declines,” SEB said in a statement.

Reporting by Simon Johnson; editing by John Stonestreet

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