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Home Prices Rise in January Despite Shortage – CBS Report

NOS Bart Kamphuis

NOS Nieuws•vandaag, 01:27

Owner-occupied houses have become more expensive again in the past year, report the Central Bureau of Statistics (CBS) and the Land Registry. In January, a house cost an average of more than 433,000 euros, which is 1.8 percent more than in January last year. Compared to December 2023, prices rose by 1.2 percent in January.

Prices of existing owner-occupied homes peaked in July 2022. The trend then reversed and the price index fell for a while, mainly due to the then rapidly rising mortgage interest rates. Since June 2023, prices of owner-occupied homes have continued to rise again.

More homes sold in January

Despite the higher prices, more people bought a house in January, the Land Registry further reports. The number of homes that changed hands last month was more than 14,000, more than 10 percent higher than in the first month of last year.

The number of home seekers is still greater than the number of houses for sale. To solve the shortage on the housing market, more homes need to be built, but the number of new construction permits issued has actually decreased by 15 percent in the past year, it said. Central Bureau of Statistics (CBS) announced last week. There were almost 55,000, compared to more than 64,000 in 2022.

2024-02-22 00:27:03
#Homes #expensive

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