House prices differ by as much as 33%
Brand-new data from Finans Danmark shows that there are big differences in how prices have developed in the various areas and postcodes of Odense. If you are about to buy or sell a home, or if you are simply curious to know how prices in your municipality developed from 2018 to 2019, read on below.
Overall, according to new figures from Finans Danmark, prices of detached and terraced houses in Odense rose by 3,26% from the first quarter of 2018 to the same period in 2019. This means Odense is well above the average for the country as a whole, which is 1,24%.
But if you look at the different parts of Odense, there are big differences between the various areas and postcodes. At their largest, the differences are as much as 33 percentage points. These are among the largest in the whole country for a single city.
Brikk’s director, Sebastian Beres, explains:
“Clearly, if you are thinking of selling, it makes sense to sell after a big price rise, while for buyers it makes good sense to buy after a bigger fall, as in Odense V or Odense N, for example. If you look at the level in Odense N, it is actually 12% lower than it was before the financial crisis, and in Odense V it is 6% lower than before the financial crisis, whereas prices in many other areas and postcodes in Odense are far higher than before 2009. This is a good indication that prices, after falls of 15% and 11% respectively and with a level below that of 2009, will rise again.”
5220 Odense SØ leads the way, closely followed by Odense M and Odense S
Odense SØ, home to Odense Golfklub and the Rosengårdscenteret shopping centre among other things, is the area and postcode with the biggest rise in prices of detached and terraced houses from 2018 to 2019. In Odense SØ prices have risen by as much as 18%, which is also among the biggest rises nationwide.
Odense SØ is closely followed by neighbouring Odense M, home to Syddansk Universitet (the University of Southern Denmark), among other things. In Odense M prices have risen by 17%.
In 3rd place, but some way behind Odense SØ and Odense M, is Odense S, where prices rose by 11% from 2018 to 2019.
Big falls in Odense N and Odense V
Of all the postcodes in Odense, Odense N is the area that has seen the biggest fall in prices of detached and terraced houses. In places such as Næsby, Beldringe, Allesø, Strandager and Stige, prices have fallen by as much as 15% overall.
Odense V and areas such as Højstrup, Bolbro, Elmelund and Ejstrup have seen the second-biggest fall in prices from 2018-2019. Across Odense V as a whole, prices have fallen by as much as 11%.
A full overview of how detached house prices developed in Odense from the 1st quarter of 2018 to the 1st quarter of 2019 can be seen below:
See the analysis for the whole country here
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