Prices of existing owner-occupied homes at record high in 2020 | NOW

The prices of existing owner-occupied homes were on average 7.8 percent higher last year than the year before. In December, homes even became 8.3 percent more expensive. This is evident from figures published by the Central Bureau of Statistics (CBS) and the Land Registry on Friday. In the province of Groningen in particular, prices rose sharply last year with an increase of 10.4 percent.

Statistics Netherlands does not mention a cause for the increase. But during 2020 it became clear that the tightness in the housing market plays an important role.

Not only did the prices of existing owner-occupied homes go up, the number of transactions also rose. Last year, 236,000 homes changed hands, 7.7 percent more transactions than in the previous year.

The figures clearly show that the housing market is not taking notice of the corona crisis. Initially, market experts thought the pandemic would dampen the price increase, but that was not evident last year. Prices rose to record highs and have been on an upward trend since 2013.

There were strong regional differences last year. It is striking that the strongest price increase of existing owner-occupied homes was mainly seen in regions outside the Randstad. This concerns the east and the southwest of the country. The price increase was the smallest in Noord-Holland, with a plus of 6.5 percent. Of the four major cities, Utrecht was the place where prices rose the fastest (an increase of 9.4 percent).

Figures from the NVM brokerage association previously showed that the prices of owner-occupied homes went up considerably last year. NVM, however, only reports this on the basis of the brokers affiliated with the association. The data from the CBS and the Land Registry refers to all transactions of existing owner-occupied homes. The prices of new-build homes are not included.


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