Dutch house prices were up 11.5% in October when compared to October 2023, and that is the biggest increase in two years, national statistics agency CBS said on Friday.

The figures are based on completed transactions and lag behind those compiled by estate agents’ organisation NVM, which cover 70% of the market.

Month on month the increase was 0.8%, the CBS said. House prices have been rising steadily since July 2023 after previously peaking in June 2022.

The number of transactions is also up over 15% to 18,131. That takes the total number of properties to change hands in the first 10 months of 2024 to 164,661a rise of 12% on a year ago.

Earlier this week the Kadaster land registry office said small landlords are selling more of their homes, particularly in the biggest Dutch cities, following the introduction of tougher rent controls.

In the third quarter of this year, small landlords sold 3,550 properties to owner-occupiers, and that is the highest number in 10 years.

These were likely to be smaller properties and had an average price of €378,000, well below the national average price buyers are currently paying. That, according to the CBS, was €467,355 last month.