House prices up by over 4 percent in May, year on year

The average price of an owner-occupied home (excluding newbuild homes) was 4.4 percent higher in May, year on year. In the previous month, the price increase was 4.3 percent. Prices were up by 0.6 percent on April. This is according to Statistics Netherlands (CBS) and The Netherlands’ Cadastre, Land Registry and Mapping Agency (Kadaster), who monitor the prices of existing owner-occupied homes.

House prices rose by 0.6 percent in May, month on month

Relative to April, the price index for existing owner-occupied homes rose 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, they were 16.6 percent higher than at their previous peak in July 2022, on average.

Fewer housing transactions in May

According to The Netherlands’ Cadastre, the total number of housing transactions recorded in the month of May was 19,120, a year-on-year decrease of 2.5 percent. In the first five months of this year, a total of 94,523 homes changed owners – a year-on-year increase of 5 percent.

The average transaction price for owner-occupied homes in May was 487,383 euros. The average selling price may show a different trend than the price index for existing owner-occupied homes 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 homes. In order to determine price changes for existing owner-occupied homes, it is therefore better to look at the price index.