Dutch house prices rise slightly for third month in a row

House prices in the Netherlands rose marginally again in August and are now just 4.8% down on a year ago, national statistics agency CBS said on Friday.

The 0.6% month on month increase in July means prices have risen slightly for the past three months. The CBS statistics are based on completed transactions and lag behind figures published by estate agents organisation NVM which said in July prices had risen 2.8% in the second quarter.

Land registry figures also show that the number of transactions may also be stabilising. The agency noted nearly 16,000 transactions in August, just 3% down on a year ago.

On Thursday, the land registry said rising interest rates had led to a 40% drop in the number of mortgages finalised in the first six months of this year.

The drop was down to both new mortgages – their number fell 16% year on year – and remortgages and top-up loans. Their total fell by an “enormous” 76%, the Kadaster researchers said.

Most of those taking out new mortgages were first time buyers.