More Supply & Demand In Scottish Housing Market

12 May 2016, 08:07

Interest in the Scottish property market grew in April, bucking the trend across the rest of the UK, according to surveyors.

Both the supply and demand for homes increased last month, with an expectation house prices and property sales will increase over the next three months.

The Royal Institution of Chartered Surveyors said the supply of Scottish residential properties coming on to the market increased for the first time in three months during April, with more than a third of surveyors predicting an increase in Scottish property sales over the next three months.

The RICS UK residential market survey also found a quarter of surveyors expect Scottish house prices to rise over the next three months.

The body wants to see the new Scottish Government commit to building more homes to meet demand.

In the rest of the UK, RICS found demand for homes fell back for the first time in over a year in April, due to a stamp duty hike and uncertainty over the looming European Union referendum.

Sarah Speirs, director of RICS in Scotland, said: "We are seeing a welcome increase in properties coming on to the market and we hope this will continue in coming months.

"However, as demand also continues to grow, this supply will not meet market needs and we call on the newly-elected Scottish Government to make the increase of housing supply across all tenures a priority.''

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