House prices continue to fall

The decrease in house prices continued unabated in August 2009, as prices of existing houses sold in that month were 5.6 percent lower on average than twelve months 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 August 2008. Prices of detached houses dropped most dramatically: by 7.0 percent. The smallest decrease was recorded for terraced houses: 4.6 percent.

House prices fell in all provinces. The most substantial price reduction was recorded in Groningen, where prices were 7.8 percent down on one year previously. In the province of Zeeland, prices fell the least (2.1 percent). 

Prices of existing houses were 0.7 percent down on July 2009. In the provinces of Utrecht, Friesland and Flevoland, prices were higher than in the previous month, in the other provinces homes were cheaper.

Almost 9.6 thousand houses were sold in August 2009, 38 percent fewer than in August 2008. Sales declined considerably for all types of houses and in all provinces. The number of detached houses sold fell by almost half.
Compared to July 2009, the total number of sales decreased by 28 percent.

Prices of owner-occupied dwellings