New home sales fell by more than a third in the third quarter from last year. This is the largest decline since the measurement began in 2015, according to figures released by the Dutch statistics authority, the land registry and European statistical office Eurostat on Tuesday.
In the third quarter of 2022, more than five thousand new homes were sold, 33.9 percent less than the previous year. In addition, more than 50,000 existing owner-occupied homes were sold, a decrease of 6.4%. The decrease is less than in the second quarter of 2022 (10.2 percent).
In total, 9.9 percent fewer homes were sold in the third quarter. This is the sixth consecutive quarter in which fewer homes were sold than in the previous year.
The price of a new home was on average 13.7 percent higher in the third quarter of last year compared to the same quarter of 2021. This brought the average selling price of a new built home to nearly 474 thousand euros. In the second quarter, the average price exceeded half a million euros for the first time.
The price of the current owner-occupied home was, on average, 11.9 percent higher than the previous year. The price increase has stabilized for the second quarter in a row. In the second quarter, prices were on average 18.4 percent higher than in the previous twelve months.
“Lifelong zombie fanatic. Hardcore web practitioner. Thinker. Music expert. Unapologetic pop culture scholar.”