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Increase in Scottish house sales

There was an increase in the number of people selling a house in Scotland last month, says the latest housing market survey from the Royal Institute of Chartered Surveyors (RICS).

The survey assesses the optimism or otherwise of its members, and found that during February, the increasing market stability witnessed in recent months translated into an uplift in sales. Surveyors are cautiously optimistic that this trend will remain stable; with 24% more of those responding to the survey claiming that newly agreed sales had risen rather than fallen.

Demand for property saw a boost too, as more Scottish buyers considered purchasing a new home. In tandem with this, the amount of homes coming onto the market also rose last month. A net balance of 24% more surveyors reported rises in new instructions. Even so, the number of properties available remains at historically low levels.

“It’s encouraging to see that the housing market now appears to be picking-up across most parts of Scotland despite on-going concerns about the health of the economy. Activity is still well down on its pre-crisis norm, however, it is running at its best level since the middle of 2010 and we are seeing some positive signs,” said Sarah Speirs, Director RICS Scotland.

Price-wise, 12% more respondents thought that prices had dipped, than thought they had risen but, according to RICS, surveyors expect prices will continue to stabilise over the coming three months as confidence gradually returns to the nation’s market.