Dutch dwellings' prices plummet in august

Home values are plummeting in the Netherlands, following the news that prices of existing owner-occupied houses were on average 2.8% lower in August 2011 than in August 2010.

According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – the rate of decline in home prices is getting steeper.

All types of dwellings were cheaper in August 2011 than one year previously. Prices of detached houses dropped most (4.5%), prices of terraced houses the least (2.1%).

And prices fell in almost all provinces of the Netherlands with declines steepest in Limburg and Gelderland. Zeeland was the only province to show a price increase of 1.7%.

Source: OPP.org.uk