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House prices are rising at a slower pace

House prices are rising at a slower pace

The pace of house price growth in the Netherlands has slowed to 3.3 percent as of August, down from significantly higher increases recorded in late 2024. While the average sale price remains above 503,000 euros, economists attribute the cooling market primarily to the impact of higher mortgage interest rates on buyer affordability.

Housing prices in the Netherlands continue to rise, although the pace of growth has notably decelerated. Recent figures from Statistics Netherlands and the Land Registry indicate that while prices were nearly 12 percent higher in November 2024 compared to the previous year, the year-on-year increase has since slowed to 3.3 percent as of August. Despite this cooling trend, current property values remain approximately 18 percent higher than the market peak recorded in July 2022.

The volume of transactions also fluctuated, with nearly 19,000 homes sold in August, representing a 3 percent decrease compared to the same month last year. However, total sales for the first eight months of the year remain 4 percent higher than in 2023. The average transaction price in August stood at over 503,000 euros. Experts suggest that the cooling market is largely influenced by rising mortgage interest rates, which restrict the borrowing capacity of potential buyers and are expected to continue suppressing price growth in the near term.

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Based on reporting by nu. Translated and condensed by LocalHeadlines.

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