Tuesday 23 July 2019

Fewer people start out on the housing ladder, as affordable supply dries up

Photo: DutchNews.nl

The number of first-time home buyers in the Netherlands fell 11% in the last quarter to around 22,500, according to consultancy IG&H in its latest housing market update.

At the same time, the amount they borrowed rose 3.4% and the average price of a home for first-time buyers increased to €249,000, the Financieele Dagblad reported.

In total, the number of new mortgages sealed in the second quarter rose 2.5% to 87,000.

A spokesman for mortgage advisor De Hypotheekshop told the Financieele Dagblad that is now impossible for many people to buy a house. There are too few homes available, he said. ‘Most new homes cost more than €300,000 and that is out of the reach of most starters,’ he said.

On Monday, student body ISO warned that young home buyers are finding it more difficult to get a mortgage because they have a student debt, despite government pledges that this would not be an issue.

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