Shortage on the owner-occupied market pushes house prices substantially

News - 06 May 2021 - Communication BK

The number of new homes completed in the new-build market has been falling for some years now. The consequences for the existing owner-occupied market have become increasingly clear in the last two quarters. The falling number of new-build houses is making it more difficult for the through-flow of houses already on the market as well, which is why the supply of existing owner-occupied houses for sale is declining dramatically. Some of the owner-occupiers are postponing any relocation plans or converting them into plans to rebuild their current home. The result is an unprecedented shortage of both new and existing owner-occupied houses, with sharply rising house prices and a slightly declining number of sales in the first quarter of 2021.

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Headerphoto: Unsplash (Margaret Polinder)