Drop in house prices more substantial

Prices of existing owner-occupied dwellings sold in May 2012 were on average 5.5 percent down on May 2011. According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – the drop in house prices is more substantial than in the preceding months. The index reflects price changes of existing owner-occupied dwellings in the Netherlands sold to private individuals.

Just as in the preceding months, residential property prices fell across all provinces. All types of dwellings were cheaper in May 2012 than in May 2011.

More than 10 thousand existing owner-occupied dwellings were sold in May. House sales were nearly 3 percent higher than twelve months previously. The total number of house sales in the period January 2012 – May 2012 was over 42 thousand, i.e. 12 percent down on the same period last year. 

Prices of existing own homes