House prices were down 4.4% in August compared with the year earlier period, the national statistics office CBS said on Friday.

The drop represents a 0.1% rise in prices compared with July. Nevertheless, house prices are now back at the same level as at the beginning of 2003 and have fallen 20% since reaching a peak in August 2008.

The average price paid for a house in August was €215,000, compared with €214,000 in July and €206,000 in June.

The land registry office Kadaster said earlier this week the number of sales in August was up 19% on August 2012.

‘The housing market is improving, and people have more confidence,’ estate agents’ organisation NVM said at the time. ‘Many more people are checking out the market, looking at houses and asking banks how much they can borrow.’