House prices fall a fraction in third quarter but recovery continues

House prices fell by 0.3% in the third quarter of this year, compared with the second three months, ending nine months of successive increases, the Dutch real estate agents association said on Thursday.

Nevertheless, year on year prices were up almost 4%. ‘The housing market recovery is continuing but at a less spectacular pace than during the first six months,’ the NVM said.

The number of houses changing hands continues to rise. In total over 29,000 transactions were completed, a 29% rise on the same period in 2013.

In popular parts of Amsterdam, Utrecht, Leiden and Haarlem, there is a threat of the market overheating, the NVM says. House prices have gone up 10% over the past year and in some cases, buyers are offering more than the asking price.

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