The Scottish housing market is holding up well despite the downturn in finance options available.

According to the Royal Institution of Chartered Surveyors (RICS) 90% of it's members reported that house prices were either rising or staying the same - a direct contrast to most surveyors in England and Wales who have reported a fall in prices.

However for the third month in a row new buyer enquiries in Scotland have fell.

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The decline in new buyer enquiries is at its most rapid since 2007; 34% more chartered surveyors are reporting a fall rather than a rise in enquiries.

It is believed new buyers are being cautious in the light of current economic conditions.

The RICS have also said many potential buyers are struggling to raise the money for a deposit. In response potential sellers are holding back.

RICS Scotland director Graeme Hartley said: "The figures reflect a housing market that's holding its breath, waiting to see what will happen in the financial market, but certainly not one heading for a crash. In fact it is quite the opposite in Scotland."

In London, 58% of surveyors said house prices had fallen while in Wales the figure stood at 71%.

(GK/JM)