The Elite Ayrshire Business Circle

The Elite Ayrshire Business Circle

Tuesday, 12 January 2010

Scottish house prices remain positive

SCOTLAND was the only area of the UK where house prices did not fall in December, according to chartered surveyors. This is the first time surveyors have not reported price drops in Scotland since April 2007.

The latest housing market survey from the Royal Institution of Chartered Surveyors (RICS) shows that in December 25% of chartered surveyors reported house prices in Scotland had risen, and 75% said they had remained stable. In November 6% had reported a fall in prices, but none reported this in December.

The survey also showed that more chartered surveyors in December than in previous months said they expect house prices to continue rising, and they believe the number of homes sold will improve slightly.

Other positive signs given by respondents to the survey showed that the number of buyers enquiring about property for sale and the number of new instructions to sell rose in December, despite the Christmas holidays.

Sarah Speirs from RICS Scotland (pictured above) said: “Chartered surveyors believe things are picking up in Scotland on the housing front, albeit at a very gradual pace. Even the traditionally quiet period in December did not deter potential buyers or sellers. Figures from the report indicate that prices and the number of sales could continue to creep upwards in to spring.”

RICS housing market survey is the longest running monthly survey of house prices in the UK, collecting data since January 1978. The survey is cited by the Bank of England’s monetary policy committee at its monthly interest rate setting meetings.

About RICS

RICS is the world’s leading qualification when it comes to professional standards in land, property and construction. RICS Scotland is a national association of RICS with 10,000 members (chartered surveyors) in Scotland.

RICS is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity – providing impartial, authoritative advice on key issues affecting businesses and society. RICS is a regulator of both its individual members and firms, enabling it to maintain the highest standards and providing the basis for unparalleled client confidence in the sector.

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