House price increase levelled off again in December

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In December, owner-occupied dwellings (excluding new constructions) were on average 2.7 percent more expensive than in the same month of the previous year, down from 4.9 percent in November. It was the lowest year-on-year price increase in more than seven years. This is evident from price monitoring of existing owner-occupied dwellings by Statistics Netherlands (CBS) and The Netherlands’ Cadastre, Land Registry and Mapping Agency.

Along with December figures, Statistics Netherlands (CBS) is able to indicate the annual figures. In 2022, owner-occupied dwellings increased in price by 13.6 percent on average relative to the previous year.

House prices fell further in December

Relative to November, the price index of owner-occupied dwellings fell by 2.3 percent in December. This is the largest decrease in 10 years. House prices reached a low in June 2013; they followed an upward trend until August 2022. After that, the price index declined for five months in a row. In December, house prices were on average over 90 percent higher than during the low in June 2013. The average transaction price was 401,436 euros in December. 

More transactions in December

According to The Netherlands’ Cadastre, the total number of transactions recorded over the month of December 2022 stands at 21,336. This is almost 4 percent more than one year previously. In 2022, altogether 193,103 dwellings changed owners. This is almost 15 percent less than in 2021.

Sources

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