More good news on housing market: first-time buyers are back
First-time buyers are currently more positive about taking their first step on the housing ladder than they have been since 2006, according to ING economists.
In their latest quarterly report on the housing market, the bank's researchers say potential buyers do not think house prices will fall much more and that now is a good time to buy.
Confidence in the housing market has risen for the past two quarters and more consumers are now positive than negative about the prospects, the ING report says.
Earlier this month, Rabobank economists said there are real signs the Dutch housing market is stabilising.
The country's biggest mortgage lender said it expects house prices to stabilise in the near future and eventually to begin slowly rising again.
‘Consumer confidence in the housing market has continuously increased month by month in the past six months, although a lasting recovery of confidence is certainly not in place yet,' the bank said. The above-average increase in house sales in recent months is also a positive sign.
Although house prices have fallen by 18% in real terms since 2008, taking inflation into account, the drop is nearer 30%, Rabobank said.