House prices nearly 2 percent up in December

Now that the December figures are known, Statistics Netherlands (CBS) is able to indicate the annual figures. In 2023, owner-occupied dwellings decreased in price by 2.8 percent on average relative to the previous year.

House prices up by 0.2 percent on November

Relative to November, the price index of existing owner-occupied dwellings increased by 0.2 percent in December. House prices reached a low in June 2013; they subsequently followed an upward trend until August 2022. Then the trend reversed and the price index fell until June 2023. Since then, prices of owner-occupied dwellings have been increasing. In December, house prices were over 93 percent higher than during the low in June 2013.

Fewer housing transactions in December

According to The Netherlands’ Cadastre, the total number of housing transactions recorded over the month of December stands at 19,565. This is over 8 percent less than one year previously. In 2023, altogether over 180 thousand dwellings changed owners, representing a decrease of 5.5 percent on 2022.

In December, the average transaction price for owner-occupied dwellings was 422,372 euros. The average selling price may show a different trend than the price index for existing owner-occupied dwellings published by CBS and The Netherlands’ Cadastre, Land Registry and Mapping Agency. Unlike the price index, the average transaction price does not take into account differences in the quality of dwellings. In order to determine price developments of existing owner-occupied dwellings, it is therefore better to use the price index.

As of reporting month January 2024, the base year of the Price Index for Existing Owner-occupied Dwellings will be adjusted from 2015 to 2020. The first figures of this new series will be published in February 2024. They will be included in a new StatLine table. The old series (base year = 2015) can still be accessed in StatLine, but will no longer be updated.