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surveyors forecast continued rise in house prices

November 10, 2009

Scotland's chartered surveyors expect house prices to rise further over the next couple of months as buyers and sellers continue to feel more confident in the market.

The latest housing market survey from the RICS shows that, last month, 16 per cent of chartered surveyors reported house prices in Scotland had risen, 78 per cent said they had not changed and just 6 per cent said they had fallen (down from 9% the previous month).

The survey also showed that chartered surveyors expect house prices to continue rising slightly.  A net balance (the percentage of chartered surveyors reporting a rise minus those reporting a fall) of 35 per cent of chartered surveyors expect prices to rise in Scotland (up from 30 per cent the previous month).

The number of buyers enquiring about property for sale in Scotland continues to be strong although the number has slowed slightly since September. The net balance of buyer inquiries for October is 51 per cent compared with 56 per cent in September.

Graeme Hartley, director of RICS Scotland said: "House prices in Scotland are expected to continue to rise slightly. If demand for property continues as it has but supply of homes for sale drops off, as it typically does heading into December, this could be what fuels the near-term price increase."

 

 
 
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