14-10-2021 —
The housing supply and the number of homes sold in the Netherlands fell again. This is apparent from the housing market figures for the 3rd quarter of 2021. With more than 32,000 homes sold in the Netherlands in the 3rd quarter, this is a decrease of approximately 29% compared to a year earlier. This is the lowest number of homes sold since 2015. With only 16,500 homes for sale, 44% less than a year ago, dissatisfaction among home seekers continues to rise. The increased scarcity is again leading to sharp price increases and a further rising percentage of overbids on the asking price for homes. The average sales price of an existing home rose in the third quarter of 2021 in the Netherlands to € 419,000 and of a new-build home to € 455,000. This is an increase compared to the 3rd quarter of 2020 of more than 19% for an existing home and 14% for a new-build home.
The figures presented again do not paint a bright picture. Although it is nice for a seller who can cash in on his equity, the expectation that no new suitable home can be obtained prevents many people from putting their current home for sale. As a result, the flow not only stops within the owner-occupied market, but also between rent and purchase. This makes it increasingly difficult for larger groups to reach the housing market. This increases the dichotomy in society between homeowners and home seekers. The housing shortage was finally recognized in the Budget Memorandum. The words are there, now the deeds. The NVM already stated on Budget Day that prospects must be offered again for house hunters. The NVM has therefore already listed the most important points for the coalition agreement. This text can be inserted seamlessly. This will then lead to regional performance agreements with other governments and a package of deregulation, local knowledge development, mitigating nitrogen measures and a more uniform tax structure.
The 3rd quarter of 2021 once again shows groundbreaking figures. The average sales price in the Netherlands has again increased by slightly more than 19%. 80% of homes are now being sold above the asking price. It is therefore clear that the hectic pace of the housing market will continue. The conditions for this are now present: mortgage interest rates are extremely low, savings are greater than ever and the economy is developing strongly. This is beneficial for the home buyer and it creates confidence. The NVM therefore sees buyers in this tight market consciously offering the top prize to trump other buyers. As a result, prices are offered that sometimes make us frown. That is not a situation that the NVM brokers are really happy with. As NVM brokers, we have to disappoint more and more people than we can make happy. Every quarter, the NVM draws attention to the housing shortage and insists on building quickly, smartly and tailored to market demand. The NVM is once again insisting: a balance in supply and demand brings the market from the lock, brings movement and a new equilibrium. That means building more ground-based homes than apartments. And it also means giving smaller centers the opportunity to create a suitable housing offer.
For sale
Compared to a year ago, the supply of owner-occupied homes in the Netherlands is no less than 44% lower. The decrease is highest for detached houses; in one year's time this has decreased by 55%. The NVM now sees flow stagnating everywhere in the housing market, which means that consumers are further limited in their options. For terraced houses and apartments in the Netherlands, the decrease of approximately 36% in one year is less strong. The regions of Central, Eastern and Southern Netherlands recorded the largest drop in supply in a year. In the Veluwe, in Southwest Overijssel, Het Gooi and the Vechtstreek, the supply has halved in a year.
Existing housing in figures in the Netherlands
More than 32,000 homes were sold in the 3rd quarter of 2021, almost 29% less than in the 3rd quarter of 2020, the lowest number in six years. On an annual basis NVM brokers sold more than 149,000 homes;
The transaction price will amount to € 419,000 in the 3rd quarter of 2021, an increase on an annual basis of more than 19%. That is slightly lower compared to the increase in the previous quarter;
The price of terraced houses has risen the most: 20.5% in one year to € 366,000; apartments are the cheapest housing type; the price rose by more than 18% to € 351,000 in one year. Detached homes note an average of € 633,000,=, also an increase of more than 18%;
Approximately 80% of the homes were sold above the asking price, on average all homes sold were sold 8.6% above the asking price. For terraced houses this is an average of 10.7% more and detached houses are selling an average of 4.1% above the asking price;
It now takes an average of 23 days for a home to be sold. That's 1
