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House prices exceed half a million, but buyers have more choice again

House prices exceed half a million, but buyers have more choice again

Dutch house prices reached an average of 503,000 euros in the third quarter, a slight increase amid a 24 percent rise in available housing supply. Despite more properties being on the market, sales remained stable due to a mismatch between buyer demand and the prevalence of small, new-build apartments.

The average selling price of Dutch homes surpassed 503,000 euros in the third quarter, representing a modest 1.8 percent increase compared to the previous year. Data from the NVM brokers' association reveals that while the supply of existing homes rose by 24 percent to approximately 39,000 properties, the total number of sales remained stagnant at 41,700. This increase in supply is largely attributed to a rise in the number of former rental apartments hitting the market. Despite having more options, buyers are facing significant regional variations, with prices actually declining in areas such as Haarlem and Zeeland, while rising sharply in parts of Drenthe and Limburg.

New construction supply also hit its highest level since 2015, yet sales are hampered by a mismatch between the types of homes built and actual consumer demand. Currently, 63 percent of new construction inventory consists of similar, small apartments. NVM officials advocate for a more diversified housing supply to better align with buyer budgets and preferences, noting that current market conditions remain tight despite the uptick in overall availability.

Based on reporting by nu. Translated and condensed by LocalHeadlines.

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