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Home prices rose slightly in June, with more homes being replaced

House prices in the Netherlands rose just 0.2% in June compared to May, but fell 5.5% year-on-year, the national statistics office CBS said on Monday.

This figure is based on completed transactions and lags behind previous statistics provided by realtors. The NVM realtor organization said earlier this month that quarterly sales prices were actually 2.8% increase In the period from April to the end of June, based on transactions by members.

Since August 2022, when the impact of soaring interest rates began to appear in earnest, housing prices have been steadily declining.

Land register figures also show that more homes have changed owners. In June, Kadaster recorded just over 16,500 completed transactions, a 6% increase over June 2022.

CBS also released quarter-over-quarter statistics for the local housing market on Monday, showing prices fell in every state in the second quarter of this year.

Utrecht was the worst hit of the big four, with prices down 12.3%. In Amsterdam, prices fell 9% from -5.7% in the first quarter, while the number of deals in the capital he increased by more than 6%.

Economists at ABN Amro said last week that they expect the number of people buying and selling homes to continue to rise. Autumn 2024despite a slight increase in prices.

Sales fell 7% in the 12 months to the end of May, and the outlook for the future was “by no means favorable,” the bank said in its latest report. housing market monitor.

The bank expects house prices to fall 5% this year and 3% in 2024, slightly better than previous forecasts.

sauce: Holland News.nl

https://www.thehagueonline.com/news/2023/07/25/house-prices-rise-slightly-in-june-more-homes-change-hands Home prices rose slightly in June, with more homes being replaced

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