House prices fall 2.8% in August

House prices were down an average 2.8% in August compared to the year earlier period, the national statistics office CBS said on Wednesday.

Detached houses fell most in price, with a drop of 4.5%.
Prices fell in every province except Zeeland, where there was a 1.7% average increase, the CBS said.
Some 10,000 houses changed hands in August, down 4% on August 2010. The CBS said the effect of the government’s decision to reduce property transfer taxes would not be apparent until September and October.
The government cut the tax from 6% to 2% in an effort to stimulate the housing market. However, new rules governing mortgages, which make it harder for first-time buyers to get a foot on the ladder, came into effect on August 1.
The CBS did not say what the average price of a house now is.

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