Homebuyers are becoming more cautious as mortgage interest rates rise due to the conflict in the Middle East. According to the mortgage advisor De Hypotheker, the average mortgage amount has stopped increasing for the first time in three years, holding steady at around €357,000. While the number of applications was similar to last year, it dropped by 7% compared to the previous quarter, suggesting the housing market is starting to settle down.
The market is shifting in favour of people who already own a home. These “movers” can often take their older, lower interest rates with them to a new property, making them more active than before. On the other hand, first-time buyers—especially those aged between 25 and 35—are submitting fewer applications as the higher costs make it harder to afford a home.
There are also big differences depending on where people live. The housing market is no longer moving as one; while mortgage amounts rose in places like Limburg and Groningen, they fell in Zeeland. Similarly, some areas like Utrecht saw a 17% drop in activity, while Zeeland saw a massive 30% increase. This shows that the market is cooling in some regions while remaining very busy in others.
@anp | NEWS BRAINPORT
