First-time buyers losing ground to people moving up the property ladder

First-time buyers seem to be losing ground to homeowners buying their next home in the Dutch housing market. After months of first-time buyers dominating the market, largely thanks to landlords selling off cheaper rentals, there were about as many first-timers as existing homeowners applying for mortgages in January, the Telegraaf reports from figures by De Hypotheker.

In January, 51 percent of mortgage applications came from first-time buyers and 49 percent from existing homeowners, down from 55 percent and 45 percent, respectively, a year earlier.

“First-time buyers were the driving force behind the mortgage market last year. But we are now seeing a sharp increase in the share of those moving to their next owned home in the total number of mortgage applications. This is a break from last year’s trend when first-time buyers dominated the housing market,” Mark de Rijke of De Hypotheker said.

In the first half of 2025, the number of mortgage applications by first-time buyers increased by 18 percent. Among those moving up the property ladder, that figure was 12 percent. The gap narrowed somewhat in the third quarter, and then a turnaround occurred. In the last quarter of 2025, mortgage applications by existing homeowners increased by 19 percent, while those from first-time buyers increased by 11 percent.

“The figures show that the housing market is in strong flux,” De Rijke said. “Despite the continuing surge in the sale of former rental properties, which are primarily offered in the more affordable first-time buyer segment, it’s much harder for first-time buyers to find affordable housing. Now that home prices continue to rise, the position of first-time buyers is only becoming more challenging.”

First-time buyers are already at a disadvantage compared to those moving up the property ladder. Existing homeowners have a better financial position thanks to accumulated equity that they can carry over to their next home, and typically pay a lower mortgage interest rate. That gap is increasing. De Hypotheker believes it’s “crucial” that the government steps in to strengthen the position of first-time buyers.