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House prices fell 8% in October

Wednesday 21 November 2012

House prices fell by an average 7.8% in October compared with the same period in 2011 and continuing the steady downward trend, according to figures from the national statistics office CBS and the land registry.

House prices are now 16% lower than they were in August 2008, when prices reached a peak, the organisations say.

So far this year, 90,000 homes have been sold, also down 8% on the same period in 2011.

The October price drop was lowest in Overijssel and Zeeland provinces and greatest in Noord-Brabant and Groningen.

Estate agents organisation NVM said last month the average price paid for a home is now €209,000, compared with €214,000 in the first quarter of the year.

Estate agents expect a mini boom in house sales in November and December as potential buyers race to beat new mortgage rules which will come into effect in 2013.


Are you still hoping to buy a house this year? Use the comment box below

© DutchNews.nl



 

Readers' Comments

House prices fell 8% in October.

Are you kidding?

By The visitor | 21 November 2012 6:21 PM

i was gonna , but i don like to rush , so NO, not this year.

By dork | 22 November 2012 7:54 AM

damn, where is the bottom exactly? anyone happen to know know how many consecutive months in a row home values have fallen here lately? this is some serious stuff.

By Z | 22 November 2012 9:02 AM

I think the headline is misleading. From the first sentence it sounds like house prices were 8% lower at the end of October 2012 compared to the end of October 2011. That's not an 8% drop in October, that's an 8% drop over a 1-yr period through October, much different.

By Brad Roberts | 22 November 2012 12:25 PM

I bought my house in 2006. Subsequent to that the value has dropped 19%. It will take perhaps three to four years before the house regains its original selling price and another two or three years before seeing any equity.

By Quince | 22 November 2012 1:49 PM

Ah jolly jolly. This means since buying our place in 2007 it's lost 24,000! That brings the price down to 126,000 which is still well over double the cost of the same size 75m2 property in a midlands city in the Uk!

By Alistair Wiseman | 22 November 2012 4:15 PM

@Z: housing prices fell 8% compared to October 2011, e.g., one year ago. Those comparisons are always made with the same month one year ago.

By Andre L. | 23 November 2012 6:20 AM

ok thanks for the answers - but i still think an 8% drop compared with last year October is very alarming. I see houses only losing value in Holland for quite some time already. I think this is affecting the underlying economy there in a big way.

By Z | 23 November 2012 12:00 PM

 
 
 
 
 
 
 
 
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