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surveyors optimistic about Scottish property

October 13, 2009

Scotland remains the UK's most buoyant property market outside the hot house of London and the south east according to the latest Housing Market Survey from the RICS (Royal Institution of Chartered Surveyors).

More surveyors in Scotland are predicting a rise in sales than anywhere else in the UK.  They also report strong levels of buyer enquiries and about a third expect prices to rise in the coming months. One in six of surveyors said that house prices in Scotland rose over the past three months and only nine per cent reported falls.  The great majority, 75 per cent, said they have stayed the same.

The latest survey also shows that better news about the market is encouraging home owners to sell and move.  In September, the net balance (the percentage of chartered surveyors reporting a rise minus those reporting a fall) of new instructions to sell in Scotland was 50 per cent, compared with a UK average net balance of just four per cent.

Graeme Hartley, director of RICS Scotland said:  "It appears Scottish buyers have got their confidence back and after months of barely any activity in the housing market, they are prepared to put their homes up for sale. House prices continue to rise albeit at a slower rate and there are still plenty of buyers enquiring about property for sale. We expect this trend to continue in the near-term."

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