House prices fell 8% in October

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.
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