24 July 2023, by Victoria Séveno
The most recent figures published by Statistics Netherlands (CBS) reveal that, between May and June, Dutch house prices rose by 0,2 percent – the first increase recorded since January of this year.
Dutch house prices rise for the first time since January
After the cost of buying a house in the Netherlands skyrocketed during the coronavirus pandemic, 2023 has seen Dutch house prices fall for the first time in years. 2022 saw record-breaking price rises on the Dutch housing market, but over the last four months the Netherlands has consistently recorded month-on-month decreases.
June 2023, however, tells a slightly different story; according to CBS, house prices were 0,2 percent higher last month than in May, and 1,5 percent higher than in April. Compared to the market’s lowest point in June 2013, prices last month were over 87 percent higher.
House prices still lower than this time last year
While these figures may mark a turning point for the market, on average house prices are still notably lower than last summer. CBS reports that, in June 2023, the prices of existing owner-occupied homes were an average of 5,5 percent lower than in June 2022.
This drop in prices is primarily the result of rising interest rates on mortgages, which limit the borrowing options for prospective buyers. In spite of this, however, CBS reports that the number of houses sold in June 2023 was almost 6 percent higher than a year earlier.
Thumb: ingehogenbijl via Shutterstock.com.