RICS: Home Sales And Buyer Enquiries In Scotland Rise At Fastest Rate In Several Years
Enquiries from prospective homebuyers and newly agreed home sales in Scotland have risen at their fastest rate in several years, according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey.
A net balance of 33% of survey respondents in Scotland reported that sales rose through the month of October, the highest the balance has been since October 2020. Scotland’s balance for sales is the third highest across all UK regions, after Northern Ireland and the North West.
Meanwhile, demand from new buyers in Scotland increased at the fastest rate seen in over three years. A net balance of 33% of Scottish respondents reported a rise in enquiries from new buyers through October, the highest this balance has been since mid-2021.
Commenting on the sales market, Thomas Baird MRICS of Select Surveyors in Glasgow, said: “The recovering Scottish housing market is largely in line with UK due to lower mortgage rates and increased market activity. There is still a lack of supply feeding increasing prices in certain areas.”