scottish housing market
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House prices have continued to rise in Scotland despite dips in other parts of the UK, according to a new survey.

The latest Royal Institution of Chartered Surveyors (RICS) residential market survey for August found the market continues to be solid north of the border.

While the outlook in Scotland and Northern Ireland is positive, London, parts of wider South East England, and East Anglia were described as “downbeat”.

In Scotland, there was a net balance of 36% more surveyors reporting an increase in prices, with forecasts of positive momentum continuing in 2018.

Sales throughout Scotland were solid during the month, with a net balance of 7% more chartered surveyors reporting an increase.

The survey said figures suggest a further decline in properties for rent in Scotland in August while tenant demand continued to rise.

Simon Rubinsohn, Rics chief economist, said: “As the results highlight, in many parts of the country, including Scotland, the housing market remains quite firm.”

She added:“While a combination of a lack of stock and some level of uncertainty, both relating to the interest rate outlook and Brexit, has had an impact on activity, the overall picture in these areas is still encouraging.

“The story in London and the South East is, as has been widely recognised, rather more challenging but it is important that this is not seen as being indicative of the wider market.”

Source: The National

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