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House prices see biggest increase in 20 years

House prices are steadily rising, against all expectations. Many expected the housing market to collapse due to the coronavirus crisis, but so far, that hasn't happened at all. In fact, the NVM real estate agents' association has announced that house prices are showing the strongest increase in as many as 20 years. So, higher prices are being paid for homes. This also means that more attention must be paid to any additional costs, for example, to repair defects. A building inspection can be performed for this.

Biggest increase in house prices

Comparing the third quarter of 2020 with the third quarter of 2019, we see a whopping 11.6 percent increase in house prices. The Dutch Association of Real Estate Agents (NVM) reports that such a large increase has not occurred in the past 20 years. Several banking economists predicted that house prices would fall, but nothing could be further from the truth. There are insufficient homes for sale, meaning house prices continue to rise even during the coronavirus crisis .

Buying quickly is actually a must

Looking to buy a home? It's crucial to act quickly these days. Homes are on the market for a very short time. It's becoming increasingly common for properties to be off the market within a few days. The NVM (Dutch Association of Real Estate Agents) has observed not only that house prices haven't risen this fast in 20 years, but also that buyers haven't had as little choice as they do now.

woningmarkt-prijzen-2020-q3.jpg

Anyone looking to buy a home currently has an average of two homes to choose from, a number that hasn't been this low in 20 years. This is another reason why we're seeing rapid house price increases. In the third quarter of 2020, the average sales price was €354,000 . With fewer options available, prices are rising, and homes are selling quickly.

Quick purchase carries risks

House hunters are feeling the pressure. It's often crucial to make a quick decision to avoid losing the property. This pressure also carries certain risks. For example, defects in or around the home are more likely to be overlooked. In the worst-case scenario, this means the new owner faces high costs. A building inspection is therefore always strongly recommended.

Would you like to make an appointment for a building inspection?

The cost of a building inspection (up to 250 m²) is only €489 including VAT. We'll conduct a comprehensive building inspection and you'll receive a building report. Do you have any questions? We're happy to help and can schedule an appointment with an expert inspector right away if you wish!

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