House prices are falling rapidly. Buyers will want to wait until the market has really collapsed. Or is that not so wise?
Housing market expert Paul de Vries of the Land Registry thinks that the collapse will not be too bad. He says to the AD: “Everyone wonders: what will happen to the value of my house? People are still aware of the price drops during the credit crisis. But if you look at the differences per year, it is still okay. to a price increase. And the circumstances are now completely different than during that crisis. Unemployment is low and there is still a housing shortage. Prices have risen incredibly fast in 2021. We flew out of the curve there. Now we are flying, as it were back into that corner.”
Housing market professor Peter Boelhouwer is a little less certain in the newspaper. “I suspect that we will still have to deal with price decreases in the coming six months.” He finds housing market predictions ‘never so difficult’. “It really depends on what the mortgage interest rate is going to do.” But Boelhouwer also thinks that prices will rise again when the war in Ukraine is over and inflation falls, “because wages also go up. And there is still a housing shortage. There is no prospect of an end to that shortage yet: new-build production is stalling.”