Number of new-build transactions halved in Q4 2022
For newly constructed dwellings, the number of transactions declined at an increasingly rapid pace during 2022. In Q4, the number stood at more than 5.3 thousand, i.e. 50.6 percent less than one year previously. As for existing owner-occupied dwellings, the number of transactions fell by 2.8 percent to over 51 thousand. This decline was smaller than in previous quarters.
In total, there were 10.8 percent fewer transactions in Q4. This is the seventh consecutive quarter in which fewer homes were sold year on year.
| Jaar | Kwartaal | New-build dwellings (year-on-year % change) | Existing dwellings (year-on-year % change) |
|---|---|---|---|
| 2017 | Q1 | 21.9 | 30.3 |
| 2017 | Q2 | 10.2 | 16.0 |
| 2017 | Q3 | 2.6 | 1.1 |
| 2017 | Q4 | 15.7 | 8.7 |
| 2018 | Q1 | -9.4 | -6.8 |
| 2018 | Q2 | -6.2 | -9.3 |
| 2018 | Q3 | -8.5 | -7.3 |
| 2018 | Q4 | -13.8 | -14.6 |
| 2019 | Q1 | -6.6 | -9.0 |
| 2019 | Q2 | -9.9 | -0.8 |
| 2019 | Q3 | -5.4 | 3.5 |
| 2019 | Q4 | -20.1 | 5.6 |
| 2020 | Q1 | 13.5 | 8.7 |
| 2020 | Q2 | 25.6 | 4.6 |
| 2020 | Q3 | 21.8 | 5.6 |
| 2020 | Q4 | 53.5 | 11.9 |
| 2021 | Q1 | 3.8 | 29.2 |
| 2021 | Q2 | 9.8 | -3.9 |
| 2021 | Q3 | 13.1 | -13.4 |
| 2021 | Q4 | -10.8 | -21.0 |
| 2022 | Q1 | 1.6 | -34.1 |
| 2022 | Q2 | -13.8 | -10.2 |
| 2022 | Q3 | -33.9 | -6.4 |
| 2022 | Q4 | -50.6 | -2.8 |
| Source: CBS, Kadaster | |||
25 thousand new-build transactions in 2022
In 2022, a total of just over 25 thousand new owner-occupied dwellings were sold. This means the number of transactions dropped by 27 percent year on year. Since measurements began in 2015, fewer sales were recorded only in 2019, when just under 25 thousand new-build homes were sold.
| Year | Q1 (x 1,000) | Q2 (x 1,000) | Q3 (x 1,000) | Q4 (x 1,000) |
|---|---|---|---|---|
| 2022 | 6.877 | 7.570 | 5.295 | 5.315 |
| 2021 | 6.770 | 8.785 | 8.014 | 10.753 |
| 2020 | 6.521 | 8.001 | 7.084 | 10.740 |
| 2019 | 5.745 | 6.370 | 5.818 | 6.998 |
| 2018 | 6.151 | 7.068 | 6.153 | 8.757 |
| 2017 | 6.789 | 7.535 | 6.722 | 10.161 |
| Source: CBS, Kadaster | ||||
Average price of a new dwelling: 468 thousand euros
In Q4 2022, the transaction price of a newly built home was on average 6.1 percent higher than in the same quarter of the previous year. The average transaction price of a new-build dwelling amounted to nearly 468 thousand euros. This is lower than in the third quarter, when the average price was 475 thousand euros.
For existing owner-occupied dwellings, the average year-on-year price increase was 5.1 percent. The price increase levelled off for the third quarter in a row. Prices were on average 11.9 percent up year on year in the previous quarter. In Q4, the average transaction price of an existing owner-occupied dwelling was lower than that of a new-build dwelling and stood at nearly 416 thousand euros.
| Jaar | Kwartaal | New-build dwellings (year-on-year % change) | Existing dwellings (year-on-year % change) |
|---|---|---|---|
| 2017 | Q1 | 6.1 | 6.8 |
| 2017 | Q2 | 6.3 | 7.7 |
| 2017 | Q3 | 6.2 | 7.6 |
| 2017 | Q4 | 10.2 | 8.2 |
| 2018 | Q1 | 11.5 | 9.0 |
| 2018 | Q2 | 11.7 | 8.8 |
| 2018 | Q3 | 16.3 | 9.2 |
| 2018 | Q4 | 10.2 | 9.0 |
| 2019 | Q1 | 9.5 | 7.9 |
| 2019 | Q2 | 16.0 | 7.2 |
| 2019 | Q3 | 6.3 | 6.3 |
| 2019 | Q4 | 8.7 | 6.2 |
| 2020 | Q1 | 4.6 | 6.6 |
| 2020 | Q2 | 4.2 | 7.5 |
| 2020 | Q3 | 10.2 | 8.1 |
| 2020 | Q4 | 8.7 | 8.8 |
| 2021 | Q1 | 16.8 | 10.3 |
| 2021 | Q2 | 13.1 | 13.0 |
| 2021 | Q3 | 12.4 | 17.5 |
| 2021 | Q4 | 14.2 | 19.6 |
| 2022 | Q1 | 13.9 | 20.3 |
| 2022 | Q2 | 16.5 | 18.4 |
| 2022 | Q3 | 13.6 | 11.9 |
| 2022 | Q4 | 6.1 | 5.1 |
| Source: CBS, Kadaster | |||
Steeper price rises in 17 other EU countries
In Q4 2022, prices of both new and existing owner-occupied dwellings in the Netherlands were 5.3 percent higher than one year previously. This puts the Netherlands in 18th place among countries with the largest increase in house prices in the European Union; it was still in 12th place one quarter previously. On average, house prices in the European Union rose by 3.6 percent in Q4 2022. The largest increases were seen in Croatia (17.3 percent), Estonia (16.9 percent) and Hungary (16.5 percent).
| Land | Price of owner-occupied dwelling (year-on-year % change) |
|---|---|
| Croatia | 17.3 |
| Estonia | 16.9 |
| Hungary | 16.5 |
| Lithuania | 16.0 |
| Bulgaria | 13.4 |
| Slovenia | 11.3 |
| Portugal | 11.3 |
| Slovakia | 9.7 |
| Poland | 9.3 |
| Latvia | 9.1 |
| Ireland | 8.7 |
| Austria | 7.9 |
| Czechia | 6.9 |
| Romania | 6.8 |
| Malta | 5.9 |
| Luxembourg | 5.6 |
| Spain | 5.5 |
| Netherlands | 5.3 |
| France | 4.9 |
| Belgium | 4.7 |
| Cyprus | 4.4 |
| European Union | 3.6 |
| Italy | 2.8 |
| Finland | -2.3 |
| Germany | -3.6 |
| Sweden | -3.7 |
| Denmark | -6.5 |
| Source: CBS, Eurostat | |
| 1) No figure available for Greece | |
The figures on new-build dwellings presented in this news release are provisional and subject to revision.
Sources
- StatLine - New and existing dwellings, price index 2015=100
- Eurostat - House price index, 2015=100