Dutch housing market dip to end

The end of the Dutch housing market dip is in sight as the drop in house sales has came to a standstill, economists said in a statement on Wednesday. The Dutch Rabobank experts said in the statement that price declines have also slowed, expecting house prices may stabilize as well in 2014, though the economic environment does still pose a risk. "Looking at many long-term indicators, such as affordability and the total housing cost percentage, we see that residential property is relatively affordable for first-time buyers," the statement said. In addition, the Dutch Association of Real Estate Brokers (NVM) predicted in April that the housing market will stabilize next year, partly because the period houses are for sale is shortening. The NVM expects an average price decrease of 5 to 7 per cent in 2013. House prices have decreased with 20 percent since 2008. It is not the first time the bottom of the house price has been predicted. In 2009 the Rabobank expected prices to stabilize in 2010, which didn't happen. The economic situation and rising unemployment turned out to be an obstacle for recovery.