Supply is at a near all-time low
Translated by Thomas Ansell
Houses in Groningen will continue to rise in price, despite the province’s earlier position as a region with a relatively large supply of properties and low interest. The Central Bureau for Statistics suspects that this is now the peak following a trough, with the city of Groningen leading the way. As reported by the Dagblad van het Noorden.
“I suspect that there is a catching up [in Groningen]”, says Peter Hein van Mulligen of the CBS, “especially because prices have caught up to the pre-financial crisis level so late. It is probably due to the popularity of the city of Groningen, because you can still see population growth in the city itself.”
In the fourth quarter of 2019, the asking price for properties across the Netherlands were higher than at the same time a year earlier. However, the price rise in Groningen was much higher, at 8.4 percent. This is the largest recorded house price rise in Groningen for 14 years.
Rental properties have also become more expensive, however we may now be approaching the peak of the market, according to statistics from Pararius.
The news comes soon after it was announced that Groningen has fewer properties for sale than at any point, with just 210 properties on the market in early January.
