Dutch housing market continues recovery; more homes sold in July

houe for sale/sold sign

In July 19,723 homes were sold in the Netherlands, a 7.1 percent increase compared to the 18,442 homes sold in the country in July 2015, the Land Registry announced on Wednesday. Compared to June 2016, there was a 10.4 percent increase in the number of homes sold, ANP reports.

There was an increase in sales of all types of housing. The number of detached homes sold increased the most at 18 percent. The number of two-under-one-roof homes sold increased least at 1.7 percent.

All provinces except Noord-Holland saw an increase in home sales in July. In Noord-Holland there was a 3.4 percent decrease. Overijssel saw the biggest increase at 21.3 percent.

In July the number of registered mortgages increased by 8.4 percent to 27,813, compared to the same month last year. There was also a 22.5 percent decrease in foreclosure auctions compared to July 2015.

Home sales have been rising for some time, mainly due to the extremely low mortgage rates. Another contributing factor is that home prices are still well below the level they were before the financial crisis in 2008.