House prices down again

Prices of existing owner-occupied houses were on average 1,8 percent lower in May 2011 than in May 2010. According to the price index of existing residential property - a joint publication by Statistics Netherlands and the Land Registry Office - the price drop was just below the one in April, when prices were 2,1 percent down on one year previously.

All types of dwellings were cheaper in May 2011 than in May 2010. Prices of detached houses dropped most (2,2 percent). With 0,9 percent, corner houses showed the smallest price drop.

Prices fell in all provinces, except in Utrecht and Groningen. With 4,4 percent, residential property prices declined most in Friesland. Prices in Utrecht and Groningen were respectively 0,5 and 0,3 percent up on one year previously.

Prices of existing residential property units dropped by 0,3 percent compared with April 2011. The price drop was exactly the same as in the preceding months. Prices have declined almost continually since August 2010.

 
Nearly 10 thousand existing residential property units changed hands in May, approximately as many as in May 2010. Fewer flats were sold, but the number of single-family dwellings sold in May was higher than twelve months previously. Within the last category, the number of detached houses increased most (by nearly 11 percent).