House prices drop 2.8 percent in October

Prices of existing owner-occupied houses were on average 2.8 percent lower in October 2011 than in October 2010. According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – the price drop is slightly less substantial than in September.

All types of dwellings were cheaper in October 2011 than in the same month last year. With 4.0 percent, prices for semi-detached houses declined most. Prices of flats declined the least (2.4 percent).

Prices rose only in Flevoland (by 1.4 percent). Prices dropped in all other provinces, most notably, by approximately 4 percent, in Friesland and Overijssel.

Prices of existing residential property units declined by 0.4 percent relative to September 2011. The price drop was marginally smaller than in August and September.

Nearly 9.5 thousand existing owner-occupied houses changed hands in October, almost 5 percent below the level recorded in October 2010. Over the first ten months of this year, more than 98 thousand houses were sold, a decline by nearly 4 percent from the same period last year.

Prices of existing own homes

More figures can be found on the theme page Prices.

For an interactive illustration of regional developments in house prices and transactions, see the Dutch housing market.