Home sales listings have never been so low
The number of home sale listings in the Netherlands has never been lower than in the past quarter, mortgage advisor De Hypotheekshop reported based on the Residential Market Monitor. The fact that few houses are for sale combined with the high demand and increasing financing means that house prices continue to rise.
"Due to a lack of good alternatives, owners put any relocation plans on hold and their home is not up for sale," De Hypotheekshop said in an explanation. The number of houses sold by NVM estate agents has fallen sharply by 29 percent on an annual basis in the past period.
Sales have stalled due to insufficient construction of new houses. The number of building permits granted has fallen again in recent quarters, after an increase last year. "That is why the supply and demand of owner-occupied homes on the market for new houses and the market for existing houses will remain significantly out of balance in the coming quarters," De Hypotheekshop said.
More than 80 percent of the houses were sold above the asking price in the third quarter. On average, the selling price was 8.6 percent above the original price.
Statistics Netherlands previously reported that the prices of existing owner-occupied houses had risen by 18.5 percent in September compared to the same month a year earlier.
That was the most significant price increase since July 2000. After a low point in mid-2013, the prices of owner-occupied homes have continued to rise. In recent months, the price increase has repeatedly reached its highest level in years.
Reporting by ANP.