As 2015 draws to a close, the Dutch housing market is ending the year on a high note.

Existing properties for sale were 3,8 percent more expensive in November 2015 than in November 2014, and 24 percent more houses were sold compared to the same month in the previous year.

Largest price increase in 7,5 years

This is the most significant increase in house prices in 7,5 years, according to the Central Bureau of Statistics (CBS).

The findings are the result of a study on the development of the housing market in the Netherlands, conducted by the CBS and the Kadaster.

Prices 6,8 percent higher than in June 2013

Homes for sale in November 2015 are now at the same average price level as in April 2004. In June 2013 the prices on the housing market bottomed out, after which a recovery set in that is continuing to this day.

Comparing data from November 2015 to that low point in 2013, prices increased by 6,8 percent.

Prices 16 percent lower than in 2008

The Dutch housing market reached a peak in August 2008. Current prices of properties for sale are 16,1 percent lower.

The development of the Dutch housing market. (Source: CBS)

24 percent more homes sold

New home owners registered 14.545 properties in the month of November 2015, according to the Kadaster. That is an increase of more than 24 percent compared to November 2014.

During the first 11 months of 2015, a total of 156.727 homes changed ownership. That is an increase of more than 22 percent over the same period in the previous year.