Residential property prices down again

Prices of existing owner-occupied houses sold in October 2010 were on average 1.1 percent lower than in October 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 and the 0.6 percent in September. In the preceding months, residential property prices had dropped less rapidly.

In October 2010, detached houses have decreased most in price. Prices were 1.8 percent down on October 2009. Flats, terraced houses and corner houses also became cheaper. Prices of semi-detached houses remained fairly stable.

House prices varied substantially across the Dutch provinces. Only in Groningen, Friesland and Limburg prices were higher than one year previously; prices dropped in all other provinces, most substantially in Flevoland (3.3 percent).

In October, house prices were 0.5 percent down on September 2010. The price drop is the same as in September relative to August.

Almost 10 thousand existing houses were sold in October, i.e. a decrease by nearly 13 percent relative to October 2009. Sales dropped for all types of houses. Proportionally, the more expensive segment of the housing market performed best. The number of houses sold in the first ten months of 2010 was approximately the same as in the first ten months of 2009.

Prices of existing own homes

More figures can be found on the theme page Prices.