Drop in house prices less substantial

Prices of existing owner-occupied houses were on average 1.1 percent lower in March 2011 than in March 2010. According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – house prices dropped less substantially in March than in February, when they were 1.5 percent down on one year previously.

All types of dwellings were cheaper in March 2011 than in March 2010. Prices of detached houses dropped most (2.7 percent). Terraced houses showed the smallest price decrease (0.2 percent).

Prices fell in all provinces except in Limburg. With 2.6 percent, residential property prices declined most in Drenthe, followed by North Brabant (2.5 percent). Prices were 1.4 percent up in Limburg.

Prices of existing residential property rose by 0.2 percent relative to February 2011. The increase in March comes after a period of seven months, in which house prices declined relative to the previous month.

Nearly 10 thousand existing residential property units changed hands in March, i.e. a decrease by over 6 percent relative to March 2010, whereas in the first two months of 2011, house sales were up on one year previously. In the first quarter of 2011, house sales were more than 2 percent higher than in the first quarter of 2010.

Prices of existing own homes

More figures can be found on the theme page Prices.