The latest report from the Royal Institution of Chartered Surveyors has found that demand for housing continues to outstrip supply.

The housing market is continuing to grow, however, with another increase in newly-agreed sales recorded. 32% of chartered surveyors reported an increase in new buyer enquiries, while just 1% said there was an increase in new instructions for homes coming onto the market for the month of June.

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House prices within the country did remain stable, with 57% of surveyors reporting an increase in prices for the month. A further 40% said they expected these prices to rise even further over the next quarter. Elsewhere, among first-time buyers in Scotland, the average Loan to Value (LTV) ratio fell for the second month in a row to 85.4%. In April, the figure was 88%.

Commenting on the report, Director of RICS Scotland, Sarah Speirs, said: "While we do expect this to level out as the summer months continue, the lack of supply is a key factor driving the Scottish market. It is one which will be addressed within the Scottish Housing Commission's recommendations published later this month."

(JP/IT)