Dutch homes sales and prices fall again

Dutch homes sales and prices fall again

Prices of owner-occupied dwellings were on average 8 percent lower in the first quarter of this year than in the first quarter of 2012 according to recent figures released by Statistics Netherlands.

The price drop occurred across all provinces, but prices fell most in the western part of the country and in the province of Drenthe. Home sales declined in most provinces in the first quarter relative to the same period last year, but the number of home sales increased marginally in the provinces of Flevoland and North Holland.

Home prices drop the least in Zeeland and Groningen
Prices of existing owner-occupied dwellings were on average 8 percent below the price level in the first quarter of 2012. Prices of owner-occupied houses fell considerably in the western provinces: by 9 percent in Utrecht and North Holland and by 8 percent in the province of South Holland compared to one year previously. With 10 percent, house prices dropped most in the province of Drenthe. Prices of existing owner-occupied houses dropped the least in Zeeland and Groningen.

Fewer houses sold
In total 23,090 houses were sold the first quarter of this year, i.e. nearly 4 percent down from the same period last year. With 11 percent, the number of house sales was reduced most in Drenthe, followed by Zeeland and Utrecht with 10 percent. The price fall was less substantial in other provinces. In Flevoland and North Holland, the number of house sales increased marginally in the first quarter compared to one year previously.

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