Demand for property continues to grow across Scotland and house price gains remain positive, according to the latest RICS UK Residential Market Survey.
The Survey shows that demand continued to outstrip supply, with a net balance of 32% of chartered surveyors reporting a growth in new buyer enquiries, teamed with just 1% reporting an increase in new instructions during June.
Continued demand was also reflected in the newly agreed sales balance – a good indicator of market activity – which has shown a steady pace of growth since February 2013.
Scottish house prices have remained stable, as a net balance of 57% of respondents reported an increase in prices in June (from 34% in May). Looking ahead, the number of respondents expecting prices to rise, rather than fall over the next three months remained steady at 40% (from 44% in May).
“In Scotland we continue to see demand exceeding supply and this has a direct impact on prices,” commented Sarah Speirs, Director RICS Scotland. “While we do expect this to level out as summer months continue, the lack of supply is a key factor driving the Scottish market and one which will be addressed within the Scottish Housing Commission’s recommendations published later this month.”
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