Figures from state-owned mortgage bank SBAB and property site Booli indicate an increase of 0.2 percent in June, or 0.5 percent if adjusted for seasonal effects. In other words, property prices have increased 6.6 percent since the turn of the year, buoyed by falling interest rates.

“The balance sheet for house prices won’t be finalised until the end of the year, but we can already say that property prices in June developed more strongly than what is normal for this time of year,” SBAB’s chief economist Robert Boije wrote in a statement.

Activity usually slows during the summer months, as Swedes head off on their holidays in June and July.

The price of a detached house rose 0.3 percent in June and 0.6 percent for apartments, adjusted for seasonal effects.

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“In June, prices for detached houses rise much more than normal for this time of year, unlike what we saw in May. Similarly to the situation for apartments, it will now be interesting to follow how a potentially pent-up need to move house affects property prices in relation to the large amount of detached homes on the market,” Boije said.

Apartment prices in particular could be affected in the long-term as housing associations change their monthly fees following two years of increased interest rates, Boije said.

“The rise in interest rates over the past two years has probably had a greater impact on detached houses than on apartments, as many associations have not yet raised monthly fees in line with the rise in interest rates. It is possible that this indicates a stronger relative price trend for houses in the second half of the year,” he said.