New dwelling market transactions down by one third

Over 50 thousand existing owner-occupied dwellings were sold, a 6.4-percent decrease relative to the same quarter of the previous year. This is a smaller decrease than in Q2 2022 (10.2 percent). For newly constructed dwellings, the decrease was by over 5 thousand transactions or 33.9 percent.
In total, altogether 9.9 percent fewer transactions took place in the third quarter. This is the sixth consecutive quarter in which fewer homes were sold year on year.

Prices of new dwellings up by 13.7 percent

In Q3 2022, the transaction price of a newly built home was on average 13.7 percent higher than in the same quarter of the previous year. This brought the average transaction price of a new build dwelling to nearly 474 thousand euros. That is lower than in Q2, when the average transaction price exceeded half a million euros for the first time.
For existing owner-occupied dwellings, the average year-on-year price increase was 11.9 percent. The price increase levelled off for the second quarter in a row. Prices were on average 18.4 percent up year on year in the previous quarter.

Steeper price rises in 11 other EU countries

In Q3 2022, house prices were 12.2 percent up on the same quarter last year. This puts the Netherlands in 12th place among countries with the largest increase in house prices in the European Union; it was in 5th place one quarter previously.
On average, house prices in the European Union rose by over 7 percent in Q3 2022. The largest increases were in Estonia (24.2 percent), Hungary (21.0 percent) and Lithuania (19.3 percent). Denmark was the only country with declining house prices, by 2.4 percent.
The house price index includes transaction prices of both new and existing owner-occupied dwellings.