The Dutch housing market is beginning to recover, with house prices rising slightly in the previous three months and more homes changing hands, according to new figures from estate agents’ organisation NVM.
In total, the NVM’s members sold 20% more homes in the second quarter of this year, when compared with the first, and the average price was up 2.8%. Prices had been falling since August last year.
However, the sharp increase in sales does mean there is less choice available for buyers. Even in the market for new homes, the number of sales was up 12% on the beginning of the year, but prices were down slightly, at an average of €468,000.
Amsterdam housing rises in price
Prices rose over almost all of the country, particularly in rural areas where there is little to buy. In The Hague region prices were up 3.8% while in the Amsterdam metropolitan area, including Haarlem and Almere, prices were up to 4.5% higher.
Prices were snapped up most quickly in Amsterdam and the Utrecht area. There was also more choice in the Amsterdam area and Zeeland than in other areas and more new homes coming on the market in the bigger Dutch cities.
What to think about when buying a new home
“The dynamics are back in the housing market,” says the NVM’s Lana Gerssen. “It is positive for both buyers and sellers. Buyers in particular have more options and more trust in the market thanks to pay rises and the strong economy.”
Overbidding is also back. NVM agents report that buyers offered more than the asking price four out of 10 times, compared with three in 10 times in the first three months of the year.
Last month, the CBS statistics agency said the cost of buying a house in the Netherlands is continuing to fall, with an annual drop of nearly 6% recorded in May. But the CBS figures are based on completed transactions and the NVM’s statistics are based on agreed sales, meaning they are slightly more current, even though they only cover around half the market.
