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Residential market barometer: flattening in The Hague

Houses are considerably more expensive than a year ago. For example, a house now costs an average of 3,137 euros per square meter, which is 11.6% more than in 2019. However, there is a clear flattening of house prices in The Hague. Here, homes are now almost as expensive as last year around this time. This may be due to the strong growth in the housing supply in the city and therefore home buyers experience less pressure to strike. 

In Amsterdam, the increase is not going as fast either. In the period between March 23 and April 12, prices were still 10% higher than last year, which has now fallen to 6.6%. This is evident from the update of the housing market barometer from weeks 13 to 15.

Consumers have more and more choices
In the last three weeks, 24% more For Sale signs have been seen in the streets. This means that, after a historic low in the first quarter, home seekers are getting more and more options. In the last three weeks, the supply increased by 5,000 homes to about 65,000. In The Hague in particular, the housing supply has risen exponentially, by almost 70%. The supply in Amsterdam is also growing faster than the national average and there are now more than 2,500 houses for sale. At the same time, the number of homes sold is decreasing. In the past period by 13%. Households therefore have more and more choices.

Overbidding begins to decline
Consumers still offer more than the asking price. Over four out of ten households outbid in the last three weeks. That is a slight decrease compared to the previous period when almost half of the buyers had more left for a house. The average overbidding has also decreased in the past three weeks: from 3,680 euros to 2,744 euros, a decrease of almost a thousand euros.