Recent Developments in Dutch Property Prices The housing market in the Netherlands has shown signs of stabilization, as house prices experienced a modest increase

of 0.5% in July compared to June, according to the latest report from the national statistics office CBS.

After experiencing a consistent decline of 5.5% over the past three months on a year-on-year basis, it appears that the downward trend in prices, which commenced in August of the previous year, has finally reached its conclusion.

It's worth noting that the CBS data, which is based on completed transactions, has a slight time lag compared to the statistics provided by the estate agents organization NVM.

Historical Context For nearly a decade, starting from June 2013 during the heart of the financial crisis, house prices in the Netherlands had been on a steady rise. However, this trajectory took a turn in August of the prior year due to a surge in interest rates.

In terms of sales activity, the number of completed deals in July witnessed a year-on-year decrease of 9%. When considering the first seven months of 2023, approximately 100,000 homes changed ownership, marking a 7% decline compared to the same period in 2022.

Insights from NVM The NVM reported in July that house prices had exhibited a slight upward movement during the second quarter of the current year. However, these prices still remained 2.4% lower than the figures recorded the previous year.

Furthermore, the association noted a significant increase in the number of homes available for sale, with approximately 32,000 properties listed by NVM members by the end of June. This represented a notable uptick of 28% compared to the same time the previous year.

Future Expectations The upcoming quarterly report from the NVM is scheduled for publication in October. This report is anticipated to provide further insights into the evolving trends and dynamics within the Dutch housing market.