January 30, 2023

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House prices are falling fastest in North Holland, Utrecht and Flevoland |  Economie

House prices are falling fastest in North Holland, Utrecht and Flevoland | Economie

Existing owner-occupied home prices decreased in all governorates in the past quarter. The decline was stronger in the provinces of Utrecht, Flevoland and Noord-Holland, where prices fell by 3 to 4 percent from the previous quarter. This is evidenced by figures released by Statistics Netherlands and the Cadastre. The lowest decline was in Limburg (1.2 per cent).

The cost of an owner-occupied home was measured nationally at an average of €415,546 in the fourth quarter of last year. That was 2.4 percent lower than in the previous quarter. It was the first time in nine years that prices had fallen.

Prices also fell in the four major cities. The biggest drop was in the city of Utrecht, which fell by 6.3 percent. Rotterdam came in first, with a decrease of just 1.7 percent.

The number of transactions increased. Between the beginning of October and the end of December, 51,345 homes were transformed in the Netherlands. That was 1.8 percent more than in the previous quarter. More homes were sold in ten counties than twelve. The exceptions were Flevoland and Utrecht.

Compared to the previous year, homes were still more expensive. In December, you paid an average of 2.7 percent for an owner-occupied home more than twelve months prior. This is the smallest increase in more than seven years.

Kadaster and CBS only looked at existing buildings. So new construction is not taken into account.

The NVM Estate Agents Association previously published numbers on the housing market. The numbers from Statistics Netherlands and the Cadastre are not exactly the same, because NVM only looks at transactions entered into by the brokers it is linked to.

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