Buyers Return Thanks To Home Report

Potential buyers in Scotland have been tempted back to the housing market thanks to the Home Report, according to chartered surveyors.

Eight out of 10 of the largest chartered surveyor firms in Scotland believe the Home Report has increased the number of enquiries from potential buyers according to research by the Royal Institution of Chartered Surveyors in Scotland (RICS Scotland).

The RICS housing market surveys from the past three months also show that buyer enquiries have risen significantly.

Graeme Hartley, director of RICS Scotland said: "Scottish buyers are making the most of having Home Reports available to them. They know that they can get all the information they need from a Home report without having to fork out for their own survey and this is keeping interest in the housing market alive."


The ten firms of chartered surveyors questioned carry out the majority of Home Reports in Scotland between them. Some also act as selling agents. From 1 December 2008 when Home Reports were officially brought in until 22 February 2009, 13,999 Home Reports were carried out by chartered surveyors who are members of RICS Scotland.

The RICS Scotland survey also showed that eight out of 10 firms believed the Home Report had no impact on the number of homes being put on the market while one firm said it had caused more homes to be placed up for sale.

Just one firm thought the Home Report had caused fewer properties to be placed on the market.

All of the firms agreed that the credit crunch (lack of finance, risk of redundancy and low confidence from buyers and sellers) was to blame for the slow property market and dip in house prices - not the Home Report.

Typically a Home Report for an average property in average condition costs around £420 plus vat. To help sellers some firms of chartered surveyors are offering buy now pay later deals and some selling agents are even offering to pay for the Home Report on the seller’s behalf.

Graeme Hartley concluded: "Chartered surveyors are property experts and the big firms have now confirmed that the Home Report is not to blame for the slow housing market. And it’s not only buyers who are taking advantage of the reports. Many sellers see it as a great marketing tool too."

Home Reports are required by law for most properties marketed for sale in Scotland.

(GK/JM)