Sharp rise in house purchase price due to scarcity in housing and labour market

In the second quarter of 2024, the median purchase price increased by a staggering 7.2%. This makes purchase prices 13.6% higher than in the second quarter of 2023. This sharp increase is partly to compensate for the very modest price increase in the first quarter of 2024. It is also due to the scarcity in the housing market, both of existing and new-build homes, scarcity in the labour market and the large number of vacancies in the construction industry. Besides the lack of sufficient supply of homes for sale, slightly lower mortgage interest rates and strong demand for housing have been driving the current increase in purchase prices.

This is according to the forty-sixth Monitor of the Housing Market for the second quarter of 2024, on Thursday, 8 August, presented by the Expertisecentrum Woningwaarde, which is part of TU Delft's Faculty of Architecture and the Built Environment.

Read more here (in Dutch).