House prices continue to rise: how long will this continue?

The Dutch Association of Real Estate Agents (NVM) has provided clarity on house prices and their expectations for the near future. The latest figures show that record house prices are currently being paid, with an average house price of €313,000. The NVM indicates that house prices have risen slightly less rapidly recently, but that this is expected to change soon. House prices are expected to accelerate again in the near future.

Keep housing costs as low as possible

This might be the perfect time to buy a home, before house prices start rising faster again. The NHG premium will decrease by 0.2 percent in 2020, but if house prices rise more quickly again, it will become more difficult for many to buy a house. If you're going to buy a home, you want to keep the costs under control as much as possible. You don't want any unpleasant financial surprises later on. A building inspection can prevent unexpected costs after the purchase.

Fewer homes on the market

Fewer homes are available on the market, causing house prices to rise. Demand is steadily increasing relative to supply. In the third quarter of this year, fewer homes were offered for sale than in the previous two quarters of 2019. As the housing market tightens, house prices continue to rise. Over the past twelve months, the number of homes for sale has decreased by almost 14 percent.

Roughly the same number of new homes were added to the market each quarter, but fewer were purchased due to high house prices. Due to the scarcity and insufficient supply, house prices are rising faster. As a result, more and more people are having trouble getting the mortgage they need to buy a home. Not everyone can borrow that much.

More likely to buy

There's another danger associated with the faster rise in house prices and the decline in the number of homes for sale. People are more inclined to buy a house without looking elsewhere. To prevent the house from becoming more expensive and/or another buyer from "snagging" it, the sale is closed more quickly. This makes it easier to skip the building inspection, with all the ensuing consequences.

Always opt for a building inspection

It's always important to have a building inspection carried out before you buy a home. This prevents unexpected costs due to defects you overlooked.

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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