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Scottish housing market loses its bounce

The spring bounce which the Scottish housing market saw in April went flat in May, says RICS UK Housing Market Survey for May 2011.

While the number of homes coming on the market, the number of potential buyers enquiring about property and the amount of newly agreed sales continued to rise in Scotland in May, it was at a slower pace than April.

Looking at house prices, 77% of chartered surveyors in Scotland said they had stayed the same in May, 9% said they had risen and13% said they had fallen. This compares with March and April when just 4% of surveyors reported a fall in house prices.

This is a slightly better picture than the rest of the UK where, excluding London, buyers are disappearing and prices continue to fall.