Family house market in Upper Austria: price cuts and new records in districts

23. Oktober 2024

WOM

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In Upper Austria, a paradoxical phenomenon continues on the real estate market: Although the market for single -family houses has been shrinking continuously since 2019, prices in many districts show remarkable resilience. By the first half of 2024, a decline in single -family housing was recorded by 8.6 percent to only 650 sales. This is the lowest level since the beginning of the surveys in 2009 by Re/Max.

Although fewer houses are sold, Upper Austria remains in third place in a nationwide comparison, behind Styria and Lower Austria. If you compare these figures with the five -year average, even around 34 percent are missing. Sales from home sales also fell by 12.5 percent to 230 million euros, which represents the lowest value since 2017 and still secures third place in the federal comparison.

price development of single -family houses

The average price for a family home now is 330,161 euros, which means a decrease of 4 percent compared to the previous year. This corresponds exactly to the average for Austria. In the lower price segment in particular, a significant drop in maximum prices by 10.9 percent to 203,000 euros. The lower limit of the top price segment has dropped to 435,000 euros, which corresponds to a decrease of 3.3 percent.

However, price increases cannot be overlooked in certain districts. Cities such as Eferding, Steyr and Ried report new top prices in the half year 2024. In Steyr, the 300,000 euro mark was exceeded for the first time, with an average price of 314,711 euros-this is an increase of 18.7 percent. Other districts also show some positive developments, while some, like Grieskirchen, have a significant decrease in 284.006 euros, which corresponds to a minus of 3.7 percent.

The differences between the districts

The drop in the price in Linz is particularly noteworthy, which at a maximum of 672,772 euros in 2023 experiences a decline of 11.5 percent to now 595,617 euros. Gmunden also has a decline of 11.2 percent to 405,530 euros. Linz-Land has stabilized, the average prices are below 400,000 euros, exactly at 394,269 euros.

The sales figures vary greatly between the districts. Braunau and Wels lead with 69 completed sales, with Braunau a decline of 14.8 percent and catfish recorded a easier decrease of 2.8 percent. In contrast, Linz-Land shows an increase of 3.3 percent to 63 sales in the same period. Only 52 units were sold in Vöcklabruck, which corresponds to a decline by 14.8 percent.

Developments in the district sales also show significant differences during the first half of the year. Schärding has the largest percentage plus and experiences an increase of 84.2 percent with 35 sales files. In contrast to this, Urfahr-Umgeben falls by 13.6 percent to only 38 sales.

The situation on the Upper Austrian real estate market remains exciting and offers both challenges and opportunities. Interested buyers and sellers should keep an eye on the articulated trends and still make decisions well informed in order to benefit from current developments. For more Details and current information on this topic, we recommend the report on www.meinbezirk.at .