In its latest residential market survey, the Royal Institution of Chartered Surveyors (RICS), found that following the result of the Scottish Independence referendum, activity intensified. Interestingly, demand for housing fell throughout the rest of the UK.
Of the surveyors asked, 81% said they noted an increase in inquiries from new buyers; this compares to the rest of the country where demand fell by 18%.
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Looking to the future, more than half also said they predict sales will continue to rise over the next quarter. While demand for rented property continued, RICS added that there are more properties entering the market.
Sarah Speirs, RICS Scotland Director, explained: "Despite the pick-up in the sales market, demand to rent property is growing and coupled with a drop in supply of new stock to let this is helping to underpin the rental outlook for landlords pretty much across Scotland.
"Post-referendum confidence in the market has seen a surge in activity, both in demand for property and an increase in homes coming onto the market. Last month's announcement on land and buildings transaction tax may also have had an impact on the higher end of the market."
(JP/IT)
