House prices rise less rapidly, but a house doesn’t suddenly become cheaper

0

Houses were on average 18.8% more expensive in May than a year ago, Statistics Netherlands and the Land Registry reported on Wednesday. This is almost 1% less than in April. Prices in February and March also rose less rapidly than the previous month.

At the start of the corona crisis, the prices of owner-occupied houses rose faster and faster. Where there was an additional 6.3% in January 2020, it was more than four times as many in January this year. In February and March the increase moderated slightly and in April it stabilized at 19.7%.

Although there has recently been talk of a possible cooling in the housing market, prices continue to rise sharply compared to the previous year. “House prices have risen more slowly since January, but that doesn’t mean it’s suddenly easier to buy a home,” said CBS chief economist Peter Hein van Mulligen.

Prices for owner-occupied homes have risen about 20% every month since last fall. “It’s now slowly stabilizing, but a smaller price increase doesn’t suddenly make a house cheaper.”

In June 2013, prices of owned accommodation bottomed out. Since then, there has been an upward trend. From the low of nine years ago, prices nearly doubled in May 2022.

Leave A Reply

Your email address will not be published.