House prices over 6 percent higher in October

Erratum:

The total number of dwellings sold in the month of October 2019 has been adjusted upwards by 3 thousand. The price index of owner-occupied dwellings has been adjusted upwards by 0.2 point. As a result, the price change was revised from 6.1 to 6.3 percent year-on-year. This adjustment is the result of a system error in the source data that has now been rectified.

The original article can be found here.

In October 2019, prices of owner-occupied dwellings (excluding new constructions) were on average 6.3 percent higher than in the same month last year. The price increase was higher than in the previous month. This is evident from price monitoring of existing owner-occupied dwellings by Statistics Netherlands (CBS) and The Netherlands’ Cadastre, Land Registry and Mapping Agency.
Price development of existing owner-occupied dwellings
YearMonthChange (year-on-year % change)
December3.2
2016January4.1
2016February3.8
2016March4.3
2016April4.2
2016May4.3
2016June4.6
2016July4.9
2016August6
2016September5.9
2016October5.6
2016November6
2016December6.7
2017January6.4
2017February6.7
2017March7.3
2017April7.4
2017May7.8
2017June8
2017July7.6
2017August7.8
2017September7.3
2017October8.2
2017November8.2
2017December8.2
2018January8.8
2018February9.5
2018March8.6
2018April8.8
2018May8.9
2018June8.9
2018July9
2018August9.3
2018September9.3
2018October9
2018November9.5
2018December8.4
2019January8.7
2019February7.5
2019March7.7
2019April7.7
2019May7.2
2019June6.9
2019July7
2019August5.7
2019September6.1
2019October6.3
Source: CBS, Kadaster

House prices show upward trend

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. In October 2019, house prices reached the highest level ever. Compared to the low in June 2013, house prices were up by over 41 percent on average in October 2019.

Price index of existing owner-occupied dwellings
YearMonth(2015=100) (2015=100)
2015November101.5
2015December101.1
2016January102.4
2016February102.5
2016March103
2016April103.2
2016May103.7
2016June104.3
2016July105.5
2016August106.4
2016September107.2
2016October107
2016November107.5
2016December107.9
2017January108.9
2017February109.3
2017March110.5
2017April110.9
2017May111.7
2017June112.5
2017July113.5
2017August114.6
2017September115
2017October115.8
2017November116.4
2017December116.8
2018January118.6
2018February119.7
2018March120.1
2018April120.6
2018May121.7
2018June122.5
2018July123.7
2018August125.4
2018September125.7
2018October126.2
2018November127.4
2018December126.6
2019January128.8
2019February128.7
2019March129.2
2019April129.8
2019May130.4
2019June130.9
2019July132.4
2019August132.5
2019September133.4
2019October133.9
Source: CBS, Kadaster

Number of housing transactions remains the same

According to figures by The Netherlands’ Cadastre, the total number of dwellings sold in the month of October 2019 stood at 18,804. This is the same number as in October 2018. In the first ten months of this year, 177,676 dwellings were sold, a decrease of almost 2 percent compared to the same period in 2018.

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