House Prices Continue To Rise In Scotland, But Demand And Sales Are Lower
Demand and sales were lower in Scotland’s housing market during June and expectations for the next few months are muted, according to the latest Royal Institution of Chartered Surveyors (RICS) survey.
In relation to new buyer enquiries and newly agreed sales, the net balances were both firmly in negative territory at -40 and -22 respectively.
This indicates that fewer potential buyers were seen in the market during June than in May and fewer sales were going through.
Short-term expectations for the market in Scotland are also muted, with a net balance of -5 for price expectations and +5 for sales expectations.
This indicates that over the next three months respondents, on balance, expect prices to edge lower and sales to pick up only slightly.
But with fewer properties coming onto the market, which is exacerbating an existing lack of supply, prices have continued to edge upwards according to the latest survey, albeit at a slower rate.