Rise In Houses Not Matched By Buyers

While the number of homes on the market in Scotland has risen, the number is not being matched by new buyers, according to a new survey.

The latest figures by the Royal Institute of Chartered Surveyors (RICS) show housing prices are declining.

3% of surveyors said they had seen a slight increase, but 36% said they were falling last month.

Overall, surveyors said activity in the market remains "very low", but were hopeful that conditions would improve over the next three months.

The survey showed that 44% more surveyors said the number of vendors placing properties on the market was rising, rather than falling.


But 8% more surveyors recorded a decline rather than a rise in inquiries from new buyers, while the number of transactions which were completed remained relatively stable.

This fall in interest was not seen in England, according to the survey.

RICS Scotland director Sarah Speirs said: "The number of potential buyers going out and viewing property saw a welcome boost last month.

"It seems that with Christmas around the corner, those who are in a position to buy decided to get out there and see what is available.

"That being said, overall activity is still very low in most parts of the country and what the market desperately needs is for this to translate into actual sales.

"Government initiatives are all well and good, but they need time to bed in and take effect, and access to affordable mortgage finance is still very difficult for many first-time buyers."

(IT)