House prices up by nearly 10 percent in May

House prices increased by 0.6 percent month on month

Relative to April, the price index for existing owner-occupied dwellings increased by 0.6 percent in May. House prices reached a low in June 2013; they subsequently followed an upward trajectory until August 2022. That trend was reversed and prices fell until June 2023, but since then house prices have been on the rise again. In May, house prices were 11.7 percent higher than at their previous peak in July 2022, on average.

More housing transactions in May

According to The Netherlands’ Cadastre, the total number of housing transactions recorded in the month of May was 19,614, which was 11,5 percent more than one year previously. In the first five months of this year, a total of 90,003 homes changed owners – a year-on-year increase of nearly 16 percent.

In May, the average transaction price for owner-occupied dwellings was 471,875 euros. The average selling price may show a different trend than the price index for existing owner-occupied dwellings published by CBS and The Netherlands’ Cadastre, Land Registry and Mapping Agency. Unlike the price index, the average transaction price does not take into account differences in the quality of dwellings. In order to determine price changes for existing owner-occupied dwellings, it is therefore better to look at the price index.