House prices over 8 percent higher in December

In December 2018, prices of owner-occupied dwellings (excluding new constructions) were on average 8.4 percent higher than in the same month in 2017. The price increase in October and November 2018 stood at 9.0 and 9.5 percent respectively. This is evident from price monitoring of existing owner-occupied dwellings by Statistics Netherlands (CBS) and The Netherlands’ Cadastre, Land Registry and Mapping Agency.

Along with December figures, Statistics Netherlands (CBS) is able to indicate the annual figures. In 2018, owner-occupied dwellings increased in price by 9.0 percent on average relative to the previous year.

Price development of existing owner-occupied dwellings (year-on-year % change)
YearMonthChange
2015January2.1
February2.4
March2.7
April2.3
May2.6
June2.6
July2.7
August2.5
September3.5
October3.4
November3.8
December3.2
2016January4.1
February3.8
March4.3
April4.2
May4.3
June4.6
July4.9
August6
September5.9
October5.6
November6
December6.7
2017January6.4
February6.7
March7.3
April7.4
May7.8
June8
July7.6
August7.8
September7.3
October8.2
November8.2
December8.2
2018January8.8
February9.5
March8.6
April8.8
May8.9
June8.9
July9
August9.3
September9.3
October9
November9.5
December8.4
Source: CBS, Kadaster

House prices continue to rise

House prices reached a record high in August 2008 and subsequently started to decline, reaching a low in June 2013. The trend has been upward since then. In May 2018, the price index of owner-occupied dwellings exceeded the record level of August 2008 for the first time; house prices subsequently continued to rise until December.

Compared to the low in June 2013, house prices were up by over 33 percent on average in December 2018, and almost 5 percent higher on average relative to the previous peak in August 2008.

Price index of existing owner-occupied dwellings (2015=100)
YearMonthIndex
2015January98.4
February98.7
March98.8
April99.1
May99.4
June99.6
July100.5
August100.4
September101.2
October101.4
November101.5
December101.1
2016January102.4
February102.5
March103
April103.2
May103.7
June104.3
July105.5
August106.4
September107.2
October107
November107.5
December107.9
2017January108.9
February109.3
March110.5
April110.9
May111.7
June112.5
July113.5
August114.6
September115
October115.8
November116.4
December116.8
2018January118.6
February119.7
March120.1
April120.6
May121.7
June122.5
July123.7
August125.4
September125.7
October126.2
November127.4
December126.6
Source: CBS, Kadaster

Number of housing transactions down in 2018

According to figures by The Netherlands’ Cadastre, the total number of dwellings sold in the month of December 2018 stood at 19,434. The total number of houses sold over the year 2018 was 218,491, representing a decline by almost 10 percent compared to 2017. At the same time, this was the second highest annual number of transactions ever recorded.

Related items