A good start to a possibly difficult year?
The Dutch market for owner-occupied houses and mortgages is getting off to a good start in 2020. In the first quarter, the number of homes sold is at a similar level to last year. The mortgage market is setting records with the number of requested and awarded new mortgages. At the same time, it is clear that the owner-occupied market will be affected by the corona crisis during the year 2020. However, it remains to be seen how big the effect will be.
These effects are expected to be limited in the coming months. Indeed, growth in the first quarter of 2020 not only shows a comparable level of homes sold by NVM brokers, but also almost 9% more transactions registered by the Land Registry. Purchase prices continue to rise nationwide by 9.6% on an annual basis, with the median purchase price of NVM in the first quarter of 2020 amounting to € 326.000. These are the main conclusions of the twenty-ninth Monitor on the owner-occupied housing market for the first quarter of 2020. The Monitor is presented on 14 May 2020 by Expertisecentrum Woningwaarde, part of the Faculty of Architecture and the Built Environment at Delft University of Technology.
Read the full article here in Dutch.