House prices up by nearly 10 percent in June

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In June 2024, existing owner-occupied dwellings were 9.7 percent more expensive, on average, than one year previously. That is the largest increase in almost 2 years. Prices were 1.3 percent higher in June than they were in May. This is clear from the price index for existing owner-occupied dwellings by Statistics Netherlands (CBS) and The Netherlands’ Cadastre, Land Registry and Mapping Agency (Kadaster).

House prices up by 1.3 percent on May

The price index for existing owner-occupied dwellings increased by 1.3 percent in June relative to May. House prices in the Netherlands reached a peak in July 2022 and after that declined for a year. Since June 2023, prices of owner-occupied dwellings have been increasing again. In June 2024, prices were on average 3.2 percent higher than at the previous peak in July 2022.

Fewer homes bought and sold in June

According to The Netherlands’ Cadastre, the total number of dwellings bought and sold recorded during the month of June stood at 14,662. That was an decrease of almost 12 percent relative to one year previously. In the first six months of this year, a total of 92,383 dwellings changed ownership; an increase of almost 9 percent year on year.

In June, the average transaction price for an owner-occupied dwelling was 441,112 euros. However, it is not the transaction price but the price index that is used to determine price changes for existing owner-occupied dwellings. Unlike the price index, the average transaction price does not take into account differences in the quality of homes.

Sources

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