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10/09/2013

Positive Signs For Scottish Housing Market

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A new report has revealed that more Scottish homeowners are putting their property on the market due to rising prices and buyer demand.

The survey, from the Royal Institution of Chartered Surveyors (RICS) added that "positivity" was starting to return to the Scottish housing market.

In August, 48% of surveyors reported an increase in new instructions, a jump from 24% the month before, but while the homes supply increased, it didn't rise enough to keep up with demand.

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Also for the month of August, the number of would-be home buyers rose, with a net balance of 73% more surveyors reporting an increase of property inquiries from potential buyers.

Looking towards the next three months, 43% more surveyors said they expected further price growth in the country.

Sarah Spiers, RICS Scotland Director, said: "We are starting to see more people return to the housing market.

" There are buyers out there and prices are edging upwards.

"It is important, however, that prices do not rise to such an extent that they become unaffordable.

"For the market to work properly, it's vital that property is both accessible and affordable, and we'll be monitoring the situation very carefully as the housing sector continues to recover."

(JP/CD)

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