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Largest increase in years: WOZ value on average 9% higher

Published on 14-09-2020
The average WOZ value of homes as of 1 January 2020 was higher for the fifth year in a row. On 1 January 2020, the average WOZ value was € 270,000 per home, 8.9 percent more than one year previously. That is the highest value ever and the largest increase in years. Statistics Netherlands reports this on the basis of new figures.

In Weesp, the average home value rose the fastest, by almost 22 percent. The average WOZ value there rose to € 351,000 in 2020. Of the four largest cities (the G4), the average WOZ value rose the most in Rotterdam, by almost 16 percent to € 222,000 per home. In Amsterdam, the average WOZ value rose by almost 11 percent to € 418,000 per home, the smallest increase within the G4.

Strongest increase in Groningen and Flevoland
The percentages of increase in the average home value were highest in the provinces of Groningen and Flevoland. In Groningen, the average home value rose by 12 percent to € 186,000. This means that the average WOZ value in Groningen is still the lowest of all provinces. In Flevoland, the average value rose by more than 11 percent to € 236,000 per home. The increase in the average home value was lowest in Zeeland, at almost 5 percent.

WOZ value follows house price
The WOZ value follows the price development of existing owner-occupied homes with a delay of one year. This delay is due to the fact that homes for the WOZ in 2020 are appraised at the value of January 1 of the previous year, ie January 1, 2019. House prices will rise from 2014, in line with this, the WOZ value after 2015 shows an increase.

In addition to the effect of the appraisal of a year earlier, all homes are included in the development of the WOZ value, including rental homes and unsold owner-occupied homes. In addition, the housing stock is changing due to new construction and demolition, which generally has an increasing effect on the development of the WOZ value.

Average WOZ value per municipality
In the municipality of Bloemendaal, the average WOZ value was highest at € 750,000. The average WOZ value was lowest in Delfzijl at € 134,000. The map below shows the average home value per municipality as of January 1, 2020 and January 1, 2019.
 

Source: Vastgoedjournaal 14th of september by Kimberly Camu