The Dutch housing market became slightly less competitive in the third quarter as the number of homes for sale continued to grow. This has given buyers more choice and, in some cases, greater negotiating power.
Pricing
According to the Dutch Association of Real Estate Agents (NVM), the average selling price of an existing home fell to €503,430, down 1.3 percent from the previous quarter. Despite the decline, prices remained 1.8 percent higher than a year earlier. The NVM attributed the slower price growth to increased housing supply, higher mortgage rates, and greater uncertainty among buyers.
The organisation stressed that the recent price decline does not indicate a lasting downward trend. Instead, seasonal factors often influence quarterly figures. Typically, larger and more expensive homes sell in the second quarter and smaller, less expensive properties change hands later in the year.
Volume
The number of homes available for sale rose by 6 percent compared with the previous quarter. The NVM noted that housing supply is now approaching levels last seen in 2019. Much of the increase was driven by homeowners putting properties on the market, particularly apartments, as landlords continued to sell former rental homes.
While market activity remained strong, sales volumes eased from the previous quarter. NVM-affiliated estate agents sold 41,700 homes between July and September, broadly in line with the same period last year but lower than in the preceding three months.
Purchasing power
The increase in supply has slightly reduced pressure on buyers, although the market remains tight. Home seekers generally had more time to make decisions and were less frequently forced into aggressive bidding wars. More than two-thirds of homes still sold above the asking price, but this was lower than a year earlier.
The market for new-build homes also strengthened. Around 21,500 newly built homes were available for sale at the end of the third quarter, the highest level since 2015 and 17 percent higher than a year earlier. The average price of a new-build home stood at €504,000, slightly below the level recorded in the previous quarter.
@anp | NEWSBRAINPORT
