House prices up by over 11 percent in August

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Existing owner-occupied dwellings were 11.2 percent more expensive in August 2024 than one year previously, on average. That is the largest increase in two years. Prices were 1.1 percent higher in August than they were in July. 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 1.1 percent on July

The price index for existing owner-occupied dwellings increased by 1.1 percent in August relative to July. 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 August 2024, prices were 5.7 percent higher than at the previous peak in July 2022, on average.

More homes bought and sold in August

According to The Netherlands’ Cadastre, the total number of dwellings bought and sold recorded during the month of August stood at 17,915. That was over 12 percent more than one year previously. In the first eight months of this year, a total of 128,908 dwellings changed ownership; an increase of over 11 percent year on year.

In August, the average transaction price for an owner-occupied dwelling was 466,207 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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