House prices in the Netherlands experienced a slight increase of 0.2% in June compared to May, according to data from the national statistics agency CBS. However, when compared to the
same period last year, house prices were down by 5.5%.
The statistics are based on completed transactions and come after earlier reports from estate agents, with the NVM estate agents organisation indicating a quarterly rise of 2.8% in house prices from April to the end of June, based on transactions handled by its members.
Since August 2022, house prices had been on a steady decline, primarily influenced by soaring interest rates.
On a positive note, the land registry figures indicate an increase in home sales. In June, the Kadaster recorded over 16,500 completed transactions, marking a 6% rise compared to June 2022.
In its quarterly report covering the regional housing market, the CBS revealed that prices had fallen across every province in the second quarter of the year.
Among the four major cities, Utrecht experienced the most significant decline, with prices down by 12.3%. Amsterdam saw a 9% decrease in prices, compared to a decline of 5.7% in the first quarter, though the number of transactions in the capital increased by over 6%.
Despite the slight uptick in prices, ABN Amro economists forecast a continued decline in the number of people buying and selling houses in 2024. The bank's latest housing market monitor indicated a 7% decrease in sales over the 12 months ending in May, and the bank stated that the future prospects are "anything but favourable."
ABN Amro expects house prices to decrease by 5% this year and a further 3% in 2024, a slight improvement from its previous forecasts.