House value marginally up in 2007

28/06/2007 15:00
A revised version of this article has been published on 10-07-07.

On 1 January 2007, the average house value in the Netherlands based on the Act on Property Assessment (WOZ) was 216 thousand euro, a 7 percent increase on one year previously.

New reference date, marginal increase

The main cause for the increase is the evaluation of the property value based on the most recent reference date (1 January 2005).
For the first time, the reference date was adjusted after two years. Due to this short period between two successive reference dates, the average house value increase was only 7 percent and lower than after previous adjustments. In 2005, when the reference date was shifted from 1 January 1999 to 1 January 2003, the average house value increased by no less than 51 percent and when the reference date was shifted from 1 January 1995 to 1 January 1999, the increase was even higher (66 percent).

Average value Dutch houses, 1 January

Average value Dutch houses, 1 January

Most substantial house value increase in Friesland

With 248 thousand euro, the average house value is highest in the province of Utrecht; the cheapest houses are found in the province of Groningen (158 thousand euro). In the province of Friesland, the average value of houses increased most substantially by 12 percent to 178 thousand euro.

Average house value by province, 1 January

Average house value by province, 1 January

Most substantial increase in Oisterwijk

In six out of ten municipalities the average house value increase ranged between 5 and 10 percent.
There was no increase in Amsterdam; in Rotterdam the value of houses increased by 10 percent and in Utrecht by 12 percent. With 22 percent, the highest value increase was recorded in the municipality of Oisterwijk.
The average house value declined in four municipalities: in Bergen (4 percent), Zeist and The Hague (3 percent) and Hoogezand-Sappemeer (1 percent).

House value by municipality, 2006-2007

House value by municipality, 2006-2007

Highest average WOZ value in Bloemendaal

There are considerable discrepancies between the various Dutch municipalities. The average house value exceeds 500 thousand euro in four municipalities in 2007, i.e. Bloemendaal (626 thousand euro), Laren (552 thousand euro), Blaricum (539 thousand euro) and Wassenaar (526 thousand euro).

Average house value by municipality, 1 January 2007

Average house value by municipality, 1 January 2007

Cees Steijn