House prices fell 8% in June, sharpest drop in 18 years

Tuesday 21 August 2012

Dutch house prices fell 8% in July compared with the year earlier period, the sharpest drop since a new way of calculating the change was introduced in 1995, the national statistics office CBS said on Tuesday.

House prices are now on a similar level to eight years ago and down 15% on their 2008 peak, the CBS said.

House prices fell across all parts of the country but the reduction was strongest in the northern province of Friesland.

Some 66,000 houses changed hands in the first seven months of this year, down 3% on the same period in 2011.

According to the national estate agent’s association NVM in April, the average price paid for a home is now €214,000, compared with over €228,000 a year ago.

© DutchNews.nl