Dutch house prices also up in June

21/07/2014 09:30

Prices of owner-occupied houses, excluding new constructions, were on average 2.2 percent higher in June 2014 than in June 2013. This was the third month in a row with increasing year-on-year prices. The price index of owner-occupied houses, excluding new constructions – a joint publication by the Statistics Netherlands (CBS) and the Land Registry Office – reflects price changes of residential property in the Netherlands.

Prices of existing owner-occupied dwellings

Prices of existing owner-occupied dwellings

Prices at the same level as in early 2013

The average price level of owner-occupied houses, excluding new constructions, is at approximately the same level as in early 2003. Prices were 19.7 percent below the record level registered in August 2008. 

Sales continue to rise

Earlier this month, the Land Registry Office published about the sales of owner-occupied houses. The sales were 56,8 percent higher in June than in June 2013. Sales of owner-occupied houses continue to rise. In the first half of this year, 63,037 homes were sold, an increase by almost 40 percent relative to the same period last year.

Price index of existing owner-occupied dwellings

Price index of existing owner-occupied dwellings

Most substantial price increase in North-Holland and the four major cities

On a quarterly basis, Statistics Netherlands also publishes additional data on price developments and sales by region and type of dwelling. Prices of owner-occupied houses were on average 1.2 percent higher in the second quarter of 2014 than in the same period last year. In most provinces prices were up, except in Drenthe, Zeeland and Groningen. The most substantial price increase (2.3 percent) was recorded in the province of North Holland.

In the four major cities, residential property prices rose much faster than on average; in Rotterdam by 4.1 percent, in Amsterdam by 3.5 percent and in Utrecht by 3.1 percent. Only The Hague lagged behind with a modest price increase of 1.6 percent.

The huge increase in sales in Amsterdam and Utrecht is remarkable. In the second quarter, sales rose by more than 80 percent relative to the second quarter of 2013. On average, the number of house sales in the Netherlands rose by 54 percent.

Price development by region, second quarter

Price development by region, second quarter

All types of dwellings were more expensive than last year

For all types of dwellings, house prices were up in the second quarter of 2014 relative to the same quarter of 2013. Prices of flats, terraced houses and corner houses rose above average. In the higher segment, the average price increase of semi-detached and detached houses was below average.

Since the  record level registered in the third quarter of 2008, the price fall of dwellings in the higher segment was more substantial than in the lower segment. Prices of detached houses, for example, were down by 23.8 percent, while prices of terraced houses were down by 16.5 percent.

Price development by dwelling

Price development by dwellings

More figures can be found on the theme page Prices.

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

For more information on economic indicators, see the Economic Monitor.