House prices rose sharply in the third quarter. According to the NVM brokerage association, the average sales price in the Netherlands in the third quarter was 354,000 euros. That is 11.6 percent more than in the same period last year.
The supply of homes increased sharply, but those homes were bought again just as quickly. All in all, the housing market has become tighter as a result. Halfway through the third quarter, there were just over 28,000 homes for sale. That is historically low, says Lana Gerssen, chair of the Housing department at NVM.
In total, 41,583 owner-occupied homes were sold in the past third quarter by NVM estate agents who control about 65 percent of the market. In terms of sales, it is the best third quarter that estate agents affiliated with NVM ever had. Summer is normally a quiet period.
For next year, the NVM is not making any predictions. “We have seen that many a prediction from banks has fallen,” says Gerssen. “I do think that when we see that interest rates are historically low, supply historically low, and demand historically high, that a lot has to be done before anything will change.”
Amsterdam is different
Amsterdam is the only region where the supply of housing has increased. Investors are divesting property and expats are leaving, says Gerssen. People are also leaving the city, partly due to corona.
“Experience shows that Amsterdam is ahead of the rest of the Netherlands”, says Jerry Wijnen, chairman of the Amsterdam Estate Agent Association. “But Amsterdam is also a really different market from the rest of the Netherlands.”
Wijnen sees that the Amsterdam market is less interesting for investors because the returns are too low due to high house prices.