Good news for first-time buyers on the housing market: owner-occupied houses will be slightly more affordable around the autumn. This is because incomes are rising and house prices are likely to fall further.
Although house prices are falling, first-time buyers now spend a little more per month than last year, De Nederlandsche Bank (DNB) reports. Due to the rise in mortgage interest rates, homes have not immediately become more affordable.
According to calculations by DNB, affordability will have increased by more than 4 percent by the end of this year compared to the end of 2021. Now that house prices continue to fall and wages have risen sharply, the position of first-time buyers is improving.
In recent times it has been quite difficult for starters to find a suitable owner-occupied home. A starter household had an average income of 67,500 euros in 2022. With this you can borrow a maximum of 312,000 euros at the current mortgage interest rate of 4 percent. But that amount is a lot lower than the average house price (432,000 euros).
2023-05-03 10:46:38
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