In August 2024, houses on the market in the Netherlands cost an average of 11 percent more than during the same month last year, Statistics Netherlands (CBS) has reported. This is the largest increase seen in two years.
Analysing the price index of existing private owner-occupied homes, CBS and the Dutch Land Registry (Kadaster) noted that house prices are continuing their upward trajectory. July of 2022 saw a peak in the cost of Dutch housing, after which house prices steadily dropped until June 2023, when they started to increase again.
The average cost of buying a house in the Netherlands during August this year was 466.207 euros - 1,1 percent higher than in July 2024 and 11,2 percent higher than the previous August. The price of homes in the eighth month of this year was on average 5,7 percent higher than the peak experienced in July 2022.
One of the main reasons for the rising house prices is the limited amount of homes available on the market. For this reason, the government has prioritised solutions for the housing shortage in the budget for 2025 and has plans to build 100.000 homes in the next year.
Even with the high prices of homes on the Dutch housing market, Kadaster has reported that 17.915 houses changed hands in August, bringing the total for the first eight months of 2024 to 128.908 homes.
This means that 11 percent more homes have been sold this year compared to the same period in 2023. The increase in the number of housing transactions, despite high prices, could be down to wage increases and low mortgage interest rates.