Today’s NRC Handelsblad reports on the latest data on housing prices by the Dutch Statistics Office (CBS). The decline in housing prices is apparently a bit smaller than befor but compared to September 2012 houses are 4,1% cheaper.
But the graph in the newspaper article shows just how big the decline has been since the peak in prices in 2008. It may be a matter of time to see the influence of this development in mortgage defaults.
N.B. this graph shows the changes relative to the previous month.