House prices slightly up in December

Average house prices in the Netherlands were 1.6 percent higher in December 2008 than twelve months previously. In November, prices were 1.0 percent higher. The price rise increased again in December after a considerable slowdown in the course of 2008.

Prices of all types of existing homes went up in December. Prices of detached houses increased by most: 2.3 percent. the most substantial price increase was recorded in the province of Friesland. The smallest price rises occurred in Groningen and Flevoland.

Compared to November 2008, prices of homes were 0.2 percent higher in December. Prices of semi-detached houses and mid-terraces dropped, while prices of all other types of homes went up.

Altogether, 16.8 thousand houses were sold in December. This is 5.2 thousand more than in November, i.e. an increase of nearly 45 percent. Every year more transactions are entered in the Land Registry in December than in November. The number of house sales was 2.9 thousand lower than in December 2007, i.e. a drop of nearly 15 percent. In the year 2008, the number of sales was almost 10 percent down on 2007.

The compilation of the price index of owner-occupied dwellings takes into account changes in the range of houses sold. Shifts from more expensive to cheaper  segments of the housing market for instance. Therefore the average price does not properly reflect price changes of houses sold. For more information see the article “Why the average dwelling purchase price is not an indicator.”
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 owner-occupied dwellings – excluding new construction - in the Netherlands sold to private individuals.

Prices of owner-occupied dwellings

Prices of owner-occupied dwellings

More figures can be found on the theme page Prices.