Housing market cools down, but that is ‘no reason to be happy’

estate agent sign
Photo credit: Studio040

According to Van Santvoort Makelaars, fewer homes were sold in the first quarter of 2023, than in the previous quarter. This is based on figures from the NVM.

Around 1200 homes changed hands in the Brabant Southeast region, in the first quarter of 2023. This is twelve percent less than in the last quarter of 2022. However, the number of sales is about the same as in the first quarter of 2022. According to Van Santvoort Makelaars, this shows that the number of sales is still falling, but the decline is softening.

In the region, the average cost of a house was €424,000 in the first quarter. However, it should be taken into account that houses can differ considerably in price. An average terraced house in Eindhoven cost €403,000. That is 0.4% less than in the previous quarter and 3.4% less than in the same quarter in 2022.

‘Not as black as outlined’
“If you look at the whole picture, the housing market is not a reason to rejoice,” said real estate agent Pieter van Santvoort. “But there is also no reason to paint it to be darker than it is. I certainly don’t see the market for existing homes shutting down, and in the region sales of new construction aren’t collapsing either. Everyone is taking a little more time for it and the rising mortgage rates are not helping.”

“But the market for existing homes remains very tight, especially in the intermediate housing category. Therefore, I don’t see house prices falling very much anymore. You already see a certain stabilization. And the undercurrent still remains that there is a huge housing need in the region and that it will only increase due to economic growth. The biggest mistake we can make now is to let new construction come to a standstill,” Van Santvoort said.

Source: Studio040

Translation: Chaitali Sengupta. She also gives online INBURGERING classes.

Your advertisement here.
Previous articleOld window frames become new dormer windows
Next articleNeighborhood divided over arrival of homeless people

No posts to display


Please enter your comment!
Please enter your name here