House prices drop faster

Prices of existing owner-occupied houses sold in January 2011 were on average 1.1 percent lower than in January 2010. According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – the price drop was slightly more substantial than in December, when house prices were 0.8 percent down on one year previously.

All types of dwellings were cheaper in January 2011 than in January 2010. With 1.8 percent, prices of terraced houses dropped most. Corner houses showed the smallest price decrease (0.2 percent).

Prices dropped in all provinces except in North Holland and Gelderland. With 4.2 percent, Friesland showed the most substantial price drop. Prices in North Holland were 1.3 percent up on January 2010, whereas house prices in Gelderland remained stable.

Prices of existing residential property also fell relative to December 2010. With 0.2 percent, the price drop was exactly the same as in December relative to November.

Over 8 thousand existing houses changed hands in January, i.e. an increase by nearly 9 percent relative to January 2009. All types of houses sold better than one year previously. With 21 percent, semi-detached houses showed the largest increase, flats the smallest with only 4 percent.

Calculations are based on house values according to the Dutch Act on Property Assessment (WOZ). As from January 2011, calculations will be based upon WOZ values set on reference date 1 January 2009.

Prices of existing own homes

Prices of existing own homes

More figures can be found on the theme page Prices.