House prices decline for the first time in nine years

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Research by the CBS and Kadaster has shown that in February, home prices were cheaper than in 2022. House prices fell by 0.8% compared to February of the previous year. This is the first time in nine years that house prices have shown a decrease. Since August 2022, the price index of existing homes has been almost continuously declining. Furthermore, the number of transactions has also decreased, by 15.5% compared to the same period last year.

In January, there was still a slight price increase of 1.5% compared to December 2022. The number of housing transactions was also slightly higher than in February. However, Rabobank and ABN Amro predict that prices will continue to decline this year, before stabilizing from next year onwards. The housing market is currently influenced by various factors, including the economic consequences of the corona pandemic and changes in mortgage interest rates. This can affect the demand for homes and thus the house prices.

Source: CBS and Kadaster

Publication date 04/04/2023

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