Downward trend house prices continues

21/07/2009 15:00

Prices of existing houses sold in June 2009 were on average 3.7 percent lower than twelve months previously. For the fifth month in a row, prices of residential property were lower than one year previously. This is shown by the price index of existing houses, a joint publication by Statistics Netherlands and the Land Registry Office.

All types of existing homes were cheaper than in June 2008. Prices of detached houses dropped most dramatically: 4.4 percent. The smallest price drop was drop was recorded for terraced houses: 2.8 percent.

House prices fell across all provinces. The most substantial price reduction was recorded in North Holland, where prices were 5.1 percent down on one year previously. In the province of Zeeland, prices fell the least (1.6 percent). 

Prices of existing houses were 0.9 percent down on May 2009. In the provinces of Groningen, Flevoland, Utrecht and North Brabant, prices were higher than in the previous month, in the other provinces homes were cheaper.

Nearly 10 thousand houses were sold in June 2009, i.e. 37 percent fewer than in June 2008. Sales declined considerably across all types of houses and all provinces. The number of sales dropped by over 3 percent relative to May 2009. 

Statistics Netherlands and the Land Registry Office have published prices of existing owner-occupied houses since January 2008. The price index of existing owner-occupied dwellings reflects price changes of residential property 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.