House prices continue to fall

21/08/2009 09:30

Prices of existing houses sold in July 2009 were on average 4.4 percent lower than twelve months previously. For the sixth 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 July 2008. Prices of detached houses dropped most dramatically: by 5.7 percent. The smallest decrease was recorded for terraced houses: 3.6 percent.

House prices fell across all provinces except Zeeland. The most substantial price reduction was recorded in Utrecht, where prices were 6.3 percent down on one year previously. In the province of Zeeland, prices rose by 0.4 percent. 

Prices of existing houses remained stable compared to June 2009. In the provinces of Zeeland, Overijssel, North Holland, Drenthe, Groningen and South Holland, prices were higher than in the previous month, in the other provinces homes were cheaper.

Over 13 thousand houses were sold in July 2009, i.e. nearly 25 percent fewer than in July 2008. Sales declined considerably for all types of houses and in all provinces. However, compared to June 2009, the total number of sales increased by more than 33 percent.

Statistics Netherlands and the Land Registry Office publish prices of existing owner-occupied houses. 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.