House prices drop further

21/09/2012 09:30

Prices of existing owner-occupied dwellings sold in August 2012 were on average 8.0 percent down from August 2011. Prices also plummeted 8.0 percent in July relative to twelve months previously. These are the most substantial price drops since the Price index of existing residential property was first recorded in 1995. The index – a joint publication by Statistics Netherlands and the Land Registry Office – reflects price changes of existing owner-occupied dwellings in the Netherlands sold to private individuals.

Prices of existing own homes

Prices of existing own homes

Prices of existing owner-occupied dwellings sold in August 2012 were at approximately the same level as more than eight years ago. Residential property prices dropped by nearly 16 percent compared to August 2008, when house prices reached a record high.

The number of registered house sales over the first eight months of 2012 totalled 74 thousand, i.e. 5 percent down from the same period last year. 

Price index of existing own homes

Price index 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 on the map.

For more information on economic indicators, the reader is referred to the Economic Monitor.