Dutch house prices decline further

Dutch house prices decline further

House prices in the Netherlands fell in April by an average 2.1 percent over the same period one year earlier, according to ​​the Central Bureau of Statistics (CBS) and the Land Registry Office.

House prices dropped more dramatically in April than in March, when they were 1.1 percent lower than one year previously.

All types of dwellings were cheaper in April 2011 than in April 2010. Prices of detached houses dropped most (4.6 percent). Prices of terraced houses decreased by only 1.2 percent.

Prices fell in all provinces except in Zeeland. With 4.0 percent, residential property prices declined most in Flevoland. Prices in Zeeland were 0.8 percent up.

Prices of existing residential property units dropped by 0.3 percent relative to March 2011. In March, prices were marginally higher than one month previously.

Over 10 thousand existing residential property units changed hands in April, i.e. a decrease by 9 percent from April 2010. With over 12 percent, sales of apartments dropped most. The number of detached houses sold, on the other hand, increased by over 2 percent.

Altogether, the number of sales in the first four months of 2011 was marginally lower than in the first four months of 2010.

The continuing decline of housing prices shows that there is still much uncertainty in the market.

Source: CBS

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