Dutch house prices continue to fall

Dutch house prices continue to fall

Dutch house prices continued to fall for second year in a row and the market has now returned to the 2008 level, a new report has said.

Statistics Netherlands said that the average WOZ house price was 232 thousand euro on 1 Januari 2012. This is more than 2 percent less than one year earlier. It is the second year in a row that the average WOZ value was down. It has now returned to the 2008 level.

The average house price was down in 96 percent of all Dutch municipalities at the start of 2012. Only 2 percent saw a rise. In six of these municipalities the increase was less than 1 percent. Montferland saw the largest drop in WOZ value, namely 9 percent.

The highest average WOZ value of all the provinces is found in Utrecht, with an average house price of 276 thousand euro. The province of Groningen has the lowest house prices, averaging 175 thousand euro. House prices in Limburg and Gelderland fell most on 2008, namely 3 and 2 percent.

In top 3 municipalities house prices exceed 600 thousand euro
The WOZ value is higher than the national average in 60 percent of the municipalities. Three municipalities are well above the rest, with average house prices exceeding 600 thousand euro. The top 3 are Bloemendaal (630 thousand euro), Blaricum (604 thousand euro) and Laren (602 thousand euro). Heerlen has the lowest average municipal house price with 133 thousand euro.

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