Increase house prices slows down further

21/11/2008 15:00

The average price of owner-occupied dwellings was 2.3 percent higher in October 2008 than twelve months previously. In September, prices rose by 2.5 percent. In the period 2004-2007, the price increase varied around 4 percent. Since then, the price increase gradually slowed down.

Prices of all types of existing homes went up in October relative to one year previously. With 2.7  percent, prices of terraced houses increased by most, while the smallest price rise was recorded for detached houses (1.4 percent). Across all Dutch provinces, prices were higher than one year ago, except in Drenthe. The most substantial price increase was recorded in the province of Utrecht.

Prices of existing owner-occupied homes remained stable in October relative to the preceding month. Prices dropped in half of all Dutch provinces, most dramatically in Friesland, but the loss was offset by the price developments in other provinces. Prices of detached and semi-detached homes declined in October compared to September. Prices of all other types of homes were up.

Altogether, 16.6 thousand houses were sold in October, about 1200 more than in September. The number of house sales was slightly lower than twelve months previously. In the period January–October, the number of sales was 6.5 percent down on the same period last year.

Statistics Netherlands and the Land Registry Office have published prices of owner-occupied dwellings since January 2008. The price index of owner-occupied dwellings reflects price changes of existing owner-occupied dwellings in the Netherlands sold to private individuals.

Prices of owner-occupied dwellings

Prices of owner-occupied dwellings