House prices rose for the fourth month in a row in July, the Dutch land registry office and national statistics office CBS said on Thursday.

On average, houses and flats changed hands for 1.9% more than a year ago and house prices are now back at their May 2003 level.

However, despite having risen 3.1% since their low of June 2013, house prices are still almost 20% down on their August 2008 peak, the CBS said. Around one third of home-owners currently live in a property worth less than they paid for it.

Last month the number of homes changing hands rose nearly 33% to just under 14,000.