House prices up by over 4 percent in February

House prices up by 1.0 percent on January

The price index for existing owner-occupied dwellings increased by 1.0 percent in February relative to January. House prices in the Netherlands reached a peak in July 2022, after which the trend reversed and the price index fell for a period. Since June 2023, however, prices of owner-occupied dwellings have been increasing again.

More homes bought and sold in February

According to The Netherlands’ Cadastre, the total number of homes bought and sold recorded during the month of February stood at 13,810. That is an increase of 16.5 percent relative to one year previously. In the first two months of this year, altogether 28,262 dwellings changed owners. This represents an increase of over 13 percent relative to one year previously.

In February, the average transaction price for an owner-occupied dwelling was 427,279 euros. However, it is not the transaction price but the price index that is used to determine price changes for existing owner-occupied dwellings. Unlike the price index, the average transaction price does not take into account differences in the quality of homes.

With effect from the reporting month of January 2024, the base year for the price index for existing owner-occupied dwellings has changed from 2015 to 2020. Furthermore, the weightings for the sub-series have been adjusted following a methodological change imposed by Europe. Other minor adjustments have also been made to the data. The old series (base year = 2015) can still be accessed in StatLine, but will no longer be updated.