Home sales fall in December after massive boom

houe for sale/sold sign

Home sales in the Netherlands showed a decline in December compared to the same month in 2014. Compared to November however, there was a significant increase, according to figures released by the Land Registry on Tuesday, the Telegraaf reports.

The Land Registry recorded 21,566 homes sold in December - 14.5 percent lower than in December 2014, but 48.3 percent more than in November. A similar development can be seen in the number of registered mortgages. A total of 29,501 new mortgages were singed in December, 15 percent fewer than in December 2014 and a 47 percent increase compared to November.

The housing market has been showing a strong recovery for a while. The Land Registry attributes the decline in December compared to the previous year to the fact that many home buyers rushed to get homes bought in December 2014, in order to avoid the stricter financing rules which were implemented in January 2015.

The Land Registry also reported 312 foreclosure auctions in December, a decrease of 12.4 percent compared to the same month last year.

Last week the Dutch Association of Estate Agents and Valuers announced that the housing market recovery can not only be seen in the number of homes sold, but also in the prices they're sold for. Home prices increased an average of 5 percent across the Netherlands. Amsterdam saw the biggest increase with 17 percent.

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