8 out of 10 owner-occupied homes are now being sold above the asking price. In addition, the amounts continue to rise. On average, in 30 percent of the cases, half a ton is outbid. A year earlier this was still the case with 5 percent of the homes sold.
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According to Olaf Sleijpen, member of the board of DNB, the overbids show how big the problem is in the housing market. “I think everyone agrees it can’t go on like this.”
‘Transparency could be better’
Sleijpen wants to investigate what interventions can be done when it comes to the phenomenon of outbidding. “I think it’s good to take a good look at that in this market.”
Various options could be explored in such a study, says Sleijpen. “The transparency about bids might be better and you might even set a limit on overbids relative to the asking price.”
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More measures needed
But one measure, such as maximizing overbids, does not solve the problem. The DNB therefore thinks it is good that the cabinet wants to build more houses and that it also takes central control. But more needs to be done.
The cabinet should ‘push oil on the fire and put out the flames under the housing market’, says Sleijpen. Because things like mortgage interest deduction and tax-favorable gifting to children (jubelton) are driving forces in the rise in house prices. DNB also wants to think about taxing the assets that homeowners have in their homes. “This makes the difference between renting and buying less significant,” says Sleijpen.
He emphasizes that these measures must be introduced slowly, because they will have major consequences for homeowners. “The problems in the housing market will not be solved today or tomorrow. But your figures clearly show that the time is right to start now.”
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