Increase in house prices up slightly

20/08/2008 15:00

In July 2008, the average price increase of owner-occupied dwellings was 3.0 percent relative to twelve months previously. In June, house prices were 2.8 percent up on the same period twelve months previously. The increase of  0.2 percentage points in July was preceded by a period of four months in which the year-on-year price increase declined steadily. This is reflected in the price index of current owner-occupied houses.  

Prices of all types of dwellings went up. With 3.6 percent, prices of semi-detached houses increased most, while the lowest price rise was recorded for end-terrace houses (2.6 percent). Prices were higher than one year ago across all Dutch provinces, except for the province of Groningen. In Groningen, houses were nearly 1 percent cheaper than twelve months previously. In the province of North Holland, house prices climbed most (nearly 6 percent). Price increases in North Holland have topped the list almost continuously for well over a year now. 

Prices of existing owner-occupied homes were 0.8 percent higher in July than in the preceding month. House prices increased most in the province of Zeeland. Only in the provinces of Gelderland and Limburg, prices dropped in July compared with June.

Sales dropped for all types of dwellings. In July, 17.6 thousand residential properties changed hands on the housing market, i.e. more than 3 percent down on July 2007. The decline was far less substantial than in May and June, when the number of homes sold decreased by 20 and 10 percent respectively.

Since January 2008, Statistics Netherlands – together with the Land Registry Office - has published purchase prices of owner-occupied dwellings. The price index of owner-occupied dwellings reflects the purchase prices of existing owner-occupied dwellings in the Netherlands sold to private individuals. For more information on this subject, see the article: Why the average purchase price is not an indicator.

Prices of owner-occupied dwellings

Prices of owner-occupied dwellings