The prices for owner-occupied homes in the Netherlands were on average 1,7 per cent higher in August 2014 than in August 2013, according to the Dutch Bureau of Statistics.

This statistic, excluding new constructions, marks the fifth month in a row of increasing year-on-year prices.

House prices back to May 2003 level

Current average owner-occupier house prices, excluding new constructions, are more than three percent above the low June 2013 level and have returned to approximately the same level as in May 2003.

This is a strong sign of recovery, although it is still considerably lower (down 19 per cent) than the record peak of the housing market boom in August 2008.

This is no bad thing, according to Stef Blok, the Minister for Housing, who recently warned against a return to the over-inflated prices of the 2007-08 property bubble.

More homes sold

The Land Registry Office has reported that 12.382 homes exchanged hands in August this year, an increase of almost a quarter compared to the number of properties sold in August 2013.

In total more than 89.248 homes have been sold up to the end of August this year, an increase of more than 38 per cent compared to the same period in 2013.

Stabilisation of the market

Housing market figures over recent months continue to point to a stabilisation of Dutch property prices and a return of consumer confidence in buying a home in the Netherlands.

Additional reports suggest that house prices may even be increasing in Amsterdam.