Scottish housing market ‘could pick up’ this year
Activity across Scotland was broadly stable last month but the latest Royal Institution of Chartered Surveyors survey suggests that both activity and prices could start to increase.
A balance of 10% more chartered surveyors report a rise rather than a fall in predicted sales in the coming months.
Advertisement
Hide AdAdvertisement
Hide AdSarah Speirs, director of RICS Scotland, said: “Sales expectations are positive and have been so in every month since the middle of last year, with the sole exception of January when poor weather had a significant impact on the market.
Optimism
“There is a clear belief that we are reaching a point of improvement and optimism. Activity is still well down on its pre-crisis norm. However, it is encouraging to see a longer-term increase predicted for prices across Scotland.”
Meanwhile, more prospective buyers viewed property in March, with a balance of 8% more surveyors reporting rises in new buyer inquiries.
The amount of houses coming onto the market increased in March but at a slower pace than in February. A balance of 14% more surveyors reported rises rather than falls in new instructions.
Commenting on the survey, Chris Hall of Rettie and Co estate agents in Edinburgh said: “The market has shown welcome life in the last two months with transactional volumes well up in preferred districts of Edinburgh and Glasgow, notably flats below £400,000 in value.
“Rural sales are still slower and higher-value sales similarly, but definite signs of optimism in preferred urban locations.”