Dutch home prices rose 7% year-on-year in September; No increase compared to August

Home prices rose by 7 percent in September compared to the same period last year. Compared to August, the average price remained the same in September, Statistics Netherlands (CBS) and the Land Registry reported.

The average sales price for an existing home last month was €489,072. Existing home prices peaked in July 2022. The trend then reversed, and prices fell for a while, but have been rising again since June 2023. In September, prices were an average of 14 percent higher than the peak in July 2022, according to CBS.

The rising home prices are mainly due to the continuing tight housing supply, but other factors like mortgage interest rates and strong wage increases also play a role.

Nearly 22,000 homes changed hands in September, almost a quarter more than a year earlier. In the first nine months of this year, almost 171,500 homes were sold, 17 percent more than a year earlier.