Get all your news in one place.
100's of premium titles.
One app.
Start reading
Insider UK
Insider UK
Business
insider.co.uk

New buyer interest in Scotland sees first rise in nearly six months

New buyer interest in the Scottish housing market has increased for the first time since January, according to new figures.

Data from the RICS UK Residential Market Survey shows a net balance of 15% more respondents seeing a rise in demand last month - the highest rise north of the border since June 2018.

House price movement has remained firm, with 23% more reporting an increase.

Ian Morton, registered valuer, said: "There has been a flurry of activity in the last month as those who have waited to sell earlier in the year have decided to market their homes.

"There is still a lack of properties for sale compared to last year."

The newly agreed sales net balance was 11% in June, with expectations for a pick-up in momentum across the Scottish market over the coming three months.

Rent is expect to increase in the coming year, with average five-year projections for the UK as a whole suggest a rise of 3.6% over a year.

House prices are anticipated to rise by 2.7% on the same basis.

Simon Rubinsohn, RICS chief economist, added: "The latest data provides further evidence of the sales market settling down, but I don't get the impression from the insight provided by contributors that this is fuelling hope of a significantly more active market going forward.

"Many of the factors that have provided a challenge during the first half of the year remain unresolved."

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.