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11/12/2012

Optimism Returns To Housing Market

A new survey has found optimism is "creeping back into the housing market".

The comment follows an increase in inquiries from would-be buyers in most parts of Scotland in November.

Demand is still historically low, however.

The amount of homes being put up for sale has also increased, according to the latest Royal Institution of Chartered Surveyors (Rics) UK housing market survey.

The research shows 20% more respondents are expecting sales to increase rather than decrease over the coming three months.

But declines in the market are still evident, with 16% more surveyors reporting falling prices.

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London is the only part of the UK to see prices increase.

Kevin MacDonald, of Graham and Sibbald chartered surveyors in Inverness, said: "Select properties have been relatively quick to sell, indicating continuing demand which will hopefully serve to build confidence in both buyers and sellers, thereby encouraging new properties to be brought to the market early in the New Year or even before."

Sarah Speirs, director of Rics Scotland, said: "There is certainly some optimism creeping back into the housing market in Scotland, and it is encouraging to see an increase in potential buyers across parts of the country where the market has particularly suffered in recent years.

"That said, there is still a long way to go and the long-standing barriers to home ownership are still very much a problem for the likes of first-time buyers.

"Additionally, the macro-economic picture continues to weigh heavy on the market and continues to prevent any really significant boost in activity."

(IT)

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