Residential property prices marginally down again

Prices of existing owner-occupied houses sold in September 2010 were on average 0.6 percent lower than in September 2009. According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – the price drop was more substantial than the 0.4 percent recorded in August. In the preceding eight months, residential property prices had dropped less rapidly.

In September, detached houses have decreased most in price. Prices were 1.8 percent down on September 2009. Terraced houses and corner houses also became cheaper. Prices of flats and semi-detached houses remained fairly stable.

House prices varied substantially across the Dutch provinces. Only in Friesland and Gelderland prices were up on one year previously, prices dropped in all other provinces. Prices decreased most in Groningen (3.2 percent).

In September, house prices were 0.5 percent down on August 2010. This is more than in August, when prices were 0.2 percent down on the preceding month.

Almost 10 thousand existing houses were sold in September, i.e. a decrease by 6.5 percent relative to September 2009. Sales improved for detached and semi-detached houses. For the other types of houses, sales were down. The number of houses sold in the first nine months of 2010 was marginally higher than in the same period last year.

Prices of existing own homes

More figures can be found on the theme page Prices.