House prices further down in September

Prices of existing owner-occupied houses were on average 2.9 percent lower in September 2011 than in September 2010. According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – the price drop is slightly more substantial than in August.

All types of dwellings were cheaper in September 2011 than in the same month last year, but price drops varied little between 3.5 percent for semi-detached houses and 2.6 percent for terraced houses.

Differences were more substantial between provinces. Price drops ranged from approximately 6.5 percent in Zeeland and Friesland to 1.2 percent in Overijssel.

Prices of existing residential property units declined by 0.6 percent relative to August 2011. Prices fell in ten of the twelve provinces; most in Zeeland (5 percent). Prices were only up in South-Holland and Overijssel (0.6 and 0.9 percent respectively).

Over 10 thousand existing owner-occupied houses changed hands in September, almost 6 percent more than in September 2010. In the first nine months of 2011, nearly 89 thousand houses were sold, a decline by nearly 4 percent from the same period last year.

Prices of existing own homes

Prices of existing own homes

More figures can be found on the theme page Prices.

For an interactive illustration of regional developments in house prices and transactions, see the Dutch housing market.