Decrease in house prices less substantial

22/03/2010 09:30

According to the price index of existing owner-occupied houses – a joint publication by Statistics Netherlands and the Land Registry Office – prices of houses sold in February 2010 were on average 4.2 percent down on February 2009. The decrease was less substantial than in January, when house prices were 5.3 percent lower than one year previously.

All types of existing owner-occupied homes were cheaper than one year previously. Prices of flats fell the least: by 3.0 percent. Prices of detached and semi-detached houses, which are usually more expensive, showed the largest price decrease: 5.3 percent.

House prices were lower than in February 2009 across all provinces. The largest price decrease was in North Holland (5.9 percent), the smallest in Zeeland (1.2 percent).

Compared to January 2010, prices of existing residential property were 0.2 percent higher. Month-on-month price changes in the provinces showed a mixed picture, ranging from approximately 2 percent up in Limburg to nearly 3 percent down in Groningen. Price changes in the other provinces varied between +2 and -3 percent.

Nearly 8.9 thousand existing houses were sold in February, approximately the same amount as in February 2009. More flats and fewer single-family dwellings were sold. The number of existing houses sold in January, was still 11 percent down on one year previously.

Prices owner-occupied dwellings

Prices owner-occupied dwellings

More figures can be found on the theme page Prices.