“At the moment we can’t see any larger up or downturns on the housing market”, said Swedbank’s estate agent's office as the effects of the central bank’s rate cuts are fading.

Prizes of houses in Sweden increased 1 percent in May while prizes of flats stagnated, new figures from Mäklarstatistik shows.

During the last three months the house prizes have gone up 3 percent and flats 6 percent due to the Riksbank’s cut of the interest rate to a record low of 0.5 percent in April. Figures for May, followed by slower increase in April, signals that the steady comeback on the real estate market this year has came to a standstill.

“During the year’s first three months we saw a rapid increase of prizes. The effect of the low interest rates is now fading”, said Per Johnler, CEO at Fastighetsbyrån, an estate agent's office within the Swedbank group.

“It looks like the government and the Riksbank have managed to create stability at the housing market, something that is good for buyers, sellers and for Sweden”, he said.

In the central parts of Stockholm, the average price of an apartment was 50,235 kronor (€4,700) in May while the average price for the country was almost two-thirds lower; 17,616 kronor.