New-build own homes over 11 percent up in price

© Hollandse Hoogte / Gerhard van Roon luchtfotografie
In Q4 2018, new-build owner-occupied homes in the Netherlands were 11.3 percent more expensive than one year previously. Prices of existing owner-occupied dwellings increased by 9.0 percent in the same period. As a result, owner-occupied homes went up by 9.3 percent on average. Three other EU countries saw even higher price increases. This is evident from new figures released by Statistics Netherlands (CBS) and the Netherlands’ Cadastre, Land Registry and Mapping Agency (Kadaster).
The year-on-year increase in Q4 is slightly lower than in the previous quarter. After a peak in Q3 (over 16 percent), the increase in Q4 is back at the same level as in the first two quarters of last year. Prices of new-build homes have increased more than those of existing homes for five consecutive quarters now.
Price development of new-build and existing owner-occupied dwellings
   New-build homes (year-on-year % change)Existing homes (year-on-year % change)
2016Q16.94.1
2016Q24.44.4
2016Q31.95.6
2016Q45.46.1
2017Q16.16.8
2017Q26.37.7
2017Q36.27.6
2017Q410.28.2
2018Q111.59.0
2018Q211.78.8
2018Q316.39.2
2018Q411.39.0

Prices of new dwellings rising faster only in the Czech Republic

Within the European Union, a higher year-on-year increase in prices of new-build dwellings than in the Netherlands was only seen in the Czech Republic. The Netherlands still had the highest price rise in new-build homes around Europe in the previous quarter (Q3 2018).

Changes in owner-occupied house prices in the Netherlands combined are published in the house price index (HPI), which shows that Q4 prices were on average 9.3 percent up year-on-year. This indicates that prices of owner-occupied houses in the Netherlands increase over twice as fast as the European average. Only in Slovenia, Latvia and the Czech Republic were price increases even higher.
House price index, Q4 2018
LandDevelopment house price index (year-on-year % change)
Slovenia18.2
Latvia11.8
Czech Republic9.9
Netherlands9.3
Portugal9.3
Luxembourg9.3
Hungary8.9
Poland7.6
Lithuania7.4
Ireland7.2
Slovakia6.8
Spain6.7
Malta6.2
Estonia5.7
Bulgaria5.5
Romania5.3
Austria4.9
Croatia4.7
Germany4.6
Europese Unie*4.2
Denmark3.8
France3.2
United Kingdom2.6
Belgium2.5
Finland1.7
Cyprus1.6
Sweden0.6
Italy-0.6
Source: CBS, Eurostat
* Average of the current European Union (EU-28), including the United Kingdom

Sources