House prices in Rotterdam above pre-crisis level

In Q4 2016, prices of owner-occupied houses in the municipality of Rotterdam exceeded the pre-recession level for the first time. Across all provinces, the average price level of owner-occupied homes (excluding new constructions) was higher in Q4 2016 than one year previously. House sales reached an all-time high in 2016, as is shown in a survey on price developments of privately-owned residential property in the Netherlands, published by Statistics Netherlands (CBS) and the Land Registry Office (Kadaster).

Price index of existing owner-occupied dwellings
Price index of existing owner-occupied dwellings
 NetherlandsRotterdam
2006 I97.195.6
2006 II98.296.2
2006 III99.596.9
2006 IV99.997.6
2007 I10199.2
2007 II102.399.7
2007 III103.8100.5
2007 IV104.299.8
2008 I105.4101.1
2008 II105.5102.2
2008 III106.7103.7
2008 IV105.9103.2
2009 I105.2101.7
2009 II102.5100.2
2009 III101.1101.3
2009 IV100.399.7
2010 I100.1100.5
2010 II100.3100.8
2010 III100.4100.6
2010 IV99.298.2
2011 I98.799.4
2011 II98.398
2011 III97.5101
2011 IV95.898.7
2012 I94.696.7
2012 II92.895.1
2012 III89.193.2
2012 IV88.592.4
2013 I86.589.3
2013 II84.787.4
2013 III85.190.2
2013 IV84.889.6
2014 I85.289.1
2014 II85.891
2014 III86.691.1
2014 IV86.690.9
2015 I87.392.6
2015 II87.994
2015 III89.195.7
2015 IV89.795.9
2016 I90.897.3
2016 II91.899.3
2016 III94.1102.8
2016 IV95.1105.7

Prices of owner-occupied homes (excluding new constructions) in Rotterdam peaked in Q3 2008 but plummeted by almost 16 percent to a low in Q2 2013. Now, over three years later, prices are 2 percent above the peak level reached in 2008. Among the four major cities, only in The Hague are prices still below the level of 2008.

Year-on-year house prices higher across the country

Across all provinces and in the four major cities, residential property prices were up in Q4 relative to Q4 2015. In Amsterdam, prices soared with an average increase of 14.4 percent year-on-year. Partly as a result of this price surge, the province of Noord-Holland had the highest average increase among all provinces at 9.2 percent.

Year-on-year price increases in Q4 2016 exceeded the nationwide average of 6.1 percent increase in the provinces of Utrecht (7.9 percent), Groningen (6.8 percent), Flevoland (6.3 percent) and Zuid-Holland (6.1 percent).

Price development existing owner-occupied dwellings by region, 2016-IV
Price development existing owner-occupied dwellings by region, 2016-IV
 Change
Amsterdam14.4
Utrecht11.9
Rotterdam10.3
Den Haag9.6
Noord-Holland9.2
Utrecht7.9
Groningen6.8
Flevoland6.3
Zuid-Holland6.1
Limburg5.3
Friesland4.6
Gelderland4.6
Noord-Brabant4.6
Overijssel4.4
Zeeland3.8
Drenthe3.3

All dwelling types up in price

All different types of dwelling were more expensive than one year previously in Q4, with flat prices rising most significantly at 8.6 percent. Prices of detached houses saw relatively the lowest increase at 4.3 percent.

Highest house sales ever

During 2016 a record total of 214,793 houses were sold, the highest number since the start of the joint publication in 1995 by CBS and Kadaster. This amounts to a total transaction value of more than 52 billion. A peak was reached in December with 25,280 transactions.

House sales in the Netherlands
House sales in the Netherlands
 Series 0
1995154568
1996175751
1997185634
1998192622
1999204538
2000189358
2001195737
2002198386
2003193406
2004191941
2005206629
2006209767
2007202401
2008182392
2009127532
2010126127
2011120739
2012117261
2013110094
2014153511
2015178293
2016214793

Sales boomed in all 12 provinces, with Gelderland, Utrecht, Noord-Holland, Zuid-Holland and Noord-Brabant reaching record levels since the start of the measurement.

The volume of sales was substantial and considerably larger in 2016 compared to the previous year for all types of dwelling. Sales of flats, corner houses and detached houses reached the highest-ever volumes on record.

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