News

HOUSE buyers continue to return to the Scottish market but a slump in the number of homes being put up for sale could inflate prices, figures out today suggest.
Interest from potential home buyers in Scotland rose for the seventh consecutive month in May, according to the Royal Institution of Chartered Surveyors.

RICS figures show that 70 per cent of Scottish surveyors reported a rise in inquiries last month
, compared to 27 per cent in April and 7 per cent in March.

In the same month last year, 59 per cent more surveyors reported a drop in interest than saw a rise.

But new instructions from sellers who want to put their home on the market fell sharply over the month, 35 per cent more surveyors reporting a fall in new seller instructions than a rise.

In April, 40 per cent more had logged a rise than reported a fall in instructions. A slowdown in new supply, coupled with increased buyer interest, could provide "some support for house prices", according to the RICS report.


Added on: 09/06/09

view all news stories