Quarterly home sales drop 10%, but sales price over 18% higher

Fewer houses were sold in the Netherlands in the second quarter. Home prices continued to rise, but less rapidly than in the previous periods. The Kadaster, the Netherlands’ Cadastre, Land Registry, and Mapping Agency, released its figures from April to June on Wednesday.

A total of 47,382 homes were sold in those months, over 10 percent less than in the same period last year. The average home cost 429,000 euros in the second quarter, 18.4 percent more than a year earlier.

In the first three months of the year, the price increase was 20.3 percent. Price increases also leveled off within the second quarter. In June, home prices were 16.7 percent higher than the same month last year.

The Kadaster expects a further dampening effect on the number of transactions and home prices in the current quarter. The impact of the increased mortgage interest will then become visible in the figures, the organization said.

Flevoland saw the biggest home price increase last quarter at 21.7 percent. This is partly because people from Amsterdam entered the market there. One in nine homes sold in Flevoland went to a buyer from Amsterdam. The price increase in Zeeland was the lowest at 16 percent on an annual basis.

First-time buyers paid an average of 356,000 euros for a home. They focused on the segment of homes up to 400,000 euros