In tandem with increasing demand from potential buyers, prices continued to grow in Scotland with 32% more respondents reporting rises rather than falls, according to the September 2013 RICS Residential Market Survey.
Prices have remained steady in Scotland since Easter and, significantly, this growth was seen right across the UK. Last month, every part of the country saw prices go up, with the exception of the North East of England where prices fell modestly for the second successive month.
With the Scottish Government’s recent launch of Help to Buy in Scotland, sales expectations look positive with a net balance of 56% more surveyors predicting a rise in sales in the coming three months.
Additionally, September saw an increase in buyer demand for properties, with a net balance of 78% more surveyors reporting a rise in the number of new buyer enquiries. However a lack of homes coming onto the market meant that the number of new instructions failed to keep pace with the burgeoning level of demand.
“It’s encouraging that the market is starting to improve in all parts of the country with more buyers looking to make a move and more sales going through,” said Sarah Speirs, Director RICS Scotland.
“Even so, it’s a big concern that the supply of property coming to the market is lagging so far behind demand, particularly with the recent launch of Help to Buy in Scotland. This imbalance is likely to result in further upward pressure in prices over the coming months, particularly in popular areas.”
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