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Average home purchase price increased by 8.8%

Published on 28-08-2020
In July, 22,560 housing transactions were registered by the Land Registry. That is 7.2% more than in July last year. In the first 7 months of 2020, 129,000 transactions were recorded, which is 6.6% more than last year in this period. The average purchase price in July was € 337,000, 8.8% higher than in July last year.

In the first seven months of 2020, buyers paid an average of € 328,700 for their owner-occupied home, 8.4% more than in these months last year. Compared to the full year 2019, the purchase price has currently increased by 6.7%. The graph and tables below from show the monthly developments for the Netherlands. Since the beginning of 2015, the average purchase price in the Netherlands has increased by 48%. The graph also shows that the PBK index, the basis for the publications of Statistics Netherlands and the Land Registry, is lagging somewhat behind.
Provincial differences
As is known, the results differ per province. With € 237,600, Groningen is still the cheapest province to buy a house, North Holland the most expensive at € 417,000. Utrecht is rapidly approaching the € 400,000 limit. Flevoland shows the largest price increase in the first seven months, no less than 11.7% more than in this period last year. In Zeeland the increase is limited to 5.8%. In Noord Brabant and Overijssel, the number of housing transactions has increased by more than 11% in the past seven months. The increase is smallest in Groningen at 2.1%. View the table and graphs below for provincial developments.
Outlook for the second half of the year

Several banks and economists have ventured into predictions for 2020. ING economists, for example, recently expect that the number of transactions for 2020 could well get stuck at 150,000. This would mean that only 21,000 transactions would have to take place in the next 5 months. If all goes well, this number will already be reached in August. Of course, corona can still have an impact on the housing market, but there is little to be noticed for the time being.

Learn more about housing market developments provides, among other things, housing market reports for each municipality and region, fact sheets with purchase price and transaction data and theoretical selling times. The second quarter reports are available.