Wait… young people can buy houses?
The number of young homebuyers in Assen has increased by 40 percent compared to the same period a year ago, as shown by figures from De Hypotheker.
This strong increase is remarkable, because starters are struggling on the housing market in general. As the supply of housing has increased since the start of the Coronavirus outbreak and the housing market seems to be slowly stabilising (read: prices soaring less than uaual), more and more starters are finding their way to the housing market, the Asser Courant writes.
More young people also seem to want to take advantage of low interest rates, now that the bottom of the mortgage market appears to have been reached.
According to De Hypotheker, the advance of this group of home buyers is partly due to the financial support they receive from their parents, which is fairly unsurprising as house prices in the Netherlands, like most of the rest of Europe, have risen at a rate that outstrips wage growth handily for several decades. Since the outbreak of Covid-19, there has been a significant increase in the number of young home buyers in the age category up to 35 years.
Currently, nearly one in three mortgage applications come from a home buyer in this age category. The share of mortgage applications for the purchase of a house aged up to 25 years has even risen by almost 150 percent in the past three months compared to the same period last year.
For those of us without large financial support from our parents, at least price rises in the rental market are slowing.
Image via Wikimedia user Jeroen Stoop. License here.
