Dutch home sales down by one-third

Dutch home sales down by one-third

Prices of own homes in the Netherlands were 8.5 percent lower on average in the second quarter of 2013 than in the same quarter last year. The price drop was largest for detached houses. Fewer homes were also sold this quarter than twelve months previously according to figures released by Statistics Netherlands.

Prices of owner-occupied homes (excluding new construction) were 8.5 percent lower on average in the second quarter of this year than in the same quarter last year. House prices were down across all categories, but by different margins. Prices of detached houses fell by most, 10.4 percent, followed by those of semi-detached houses: 9.2 percent. The smallest decrease was for apartments and terraced houses, which cost around 7.5 percent less than twelve months previously.

A total of 22,111 Dutch owner-occupied homes were sold to new owners in the second quarter of 2013. This is more than one-third down than in the same period last year ((34,628 homes). Sales of terrace and end-of-terrace houses fell by most: 40 percent. In other categories, sales of semi-detached houses were down 37 percent, and sales of apartments by 29 percent.

The strong decrease in house sales is partly the result of a peak in the second quarter of 2012. Uncertainly surrounding the extension of the reduced rate of conveyance tax may have resulted in more potential buyers buying a house before 1 July 2012.

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