2023-11-21 23:00:46
House prices have been lower for nine months in a row than a year earlier, but the difference is getting smaller each time. Moreover, prices are already on the rise compared to the summer. The number of home sales is also increasing once more.
In October, an existing owner-occupied home cost an average of 424,521 euros. That is 2.3 percent cheaper than in the same month last year. This is the smallest decline since March, according to figures from statistics agency CBS. In September, prices were still 3.5 percent lower than a year earlier.
On a monthly basis, house prices have been on the rise for a while. The average sales price was 0.7 percent higher in October than in September. And in that month, homes were once more more expensive than in August. Since May, the sales price of owner-occupied homes has risen every month.
More homes are changing owners
It is also striking that more homes were sold in October than a year earlier. According to the Land Registry, this concerns 15,705 homes sold, almost 6 percent more than in October 2022.
Over the past 2.5 years, the number of sales has decreased almost every month. A decrease can also be seen throughout 2023. From January to October, 6 percent fewer homes were sold than in the first ten months of 2022.
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