Residential property prices drop less rapidly

21/02/2012 09:30

Prices of existing owner-occupied houses sold in January 2012 were on average 3.3 percent down on January 2011. According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – prices dropped less rapidly than in December (4.0 percent). The index reflects price changes of existing owner-occupied dwellings in the Netherlands sold to private individuals.

All types of dwellings were cheaper in January 2012 than in January 2011. With 4.3 percent, prices for flats declined most. Prices of terraced houses and corner houses dropped the least (2.7 percent).

Residential property prices fell across all provinces. With more than 5 percent, prices declined most notably in Gelderland. With 1 percent, the drop in residential property prices was relatively small in Flevoland.

Prices of existing owner-occupied houses rose by 0.6 percent in January 2012 relative to December 2011. This was the first price increase after five consecutive months of falling prices.

Over 7 thousand existing owner-occupied houses changed hands in January, i.e. 15 percent down on the level recorded in January 2011.

Calculations are based on house values according to the Dutch Act on Property Assessment (WOZ). As from January 2012, calculations will be based upon WOZ values with reference date 1 January 2010.

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.