Home prices up 7.5 percent in April, topping July 2022 peak for first time

Existing owner-occupied home prices were 7.5 percent higher in April than a year earlier, topping the July 2022 peak for the first time. The number of home sales increased by nearly a quarter, Statistics Netherlands (CBS) and the Land Registry reported on Wednesday.

In April, the average transaction price for an existing owner-occupied home was 435,984 euros, 7.5 percent more than in April 2023 and 1.0 percent more than in March 2024.

After a declining trend that lasted about a year, the prices of owner-occupied homes have been rising consistently since June 2023. “In April 2024, prices were higher for the first time (0.7 percent) than the previous peak in July 2022.

The Land Registry registered 15,6789 housing transactions in April. That is over 22 percent more than a year earlier. In the first four months of 2024, 60,130 existing owner-occupied homes changed hands, almost 13 percent more than a year earlier.

Last month, ABN Amro forecast that home prices would soon top the July 2022 peak. The bank expects owner-occupied homes to become 6 percent more expensive this year and 5 percent more expensive next year.