House prices in the Netherlands were up 18.2% in the second quarter of this year, when compared with 2021 and this is one of the highest increases in the EU, national statistics agency CBS said on Tuesday.

On average, house prices rose 10% across the EU, but were highest in Estonia (27%), the Czech Republic, Hungary, Lithuania and then the Netherlands, the CBS said.

However, the 18.4% rise for existing buildings, rather than new homes, was down on the 20% rise recorded in the first quarter, the CBS said.

Figures from estate agents organisation NVM last week showed that house prices have actually fallen almost 6% between the second and third quarters of the year.

‘After a few years of double digit increase of house prices, due to inflation and higher interest rates, we finally see signs of prices dropping and getting back to normal,’ said Henk Jansen of mortgage advice group Expat Mortgages. ‘I personally think this is a good sign for the housing market in general and potential buyers specifically.’

The number of homes changing hand also fell 10% in the second quarter, compared with a year ago, the CBS said. It was the fifth quarter in a row that the number of transactions actually went down.