• STV
  • MySTV

Mixed picture for housing market as sales see slight rise

Fewer properties were listed in January than the previous month.

Property: Difficult market persists (file pic).
Property: Difficult market persists (file pic). Diana Parkhouse | CC | https://flic.kr/p/8rf5NG

The Scottish housing market experienced a slight growth in sales as the overall UK market got off to a slow start to the year, new figures show.

The latest findings from the Royal Institution of Chartered Surveyors (Rics) present a mixed picture north of the border, with the number of new properties being listed on the sales market deteriorating in January.

A net balance of -18% of surveyors reported a drop in new instructions to sell and demand from new buyers was flat last month.

Sales of properties already on the market did pick up in Scotland, however, with a balance of 14% of surveyors reporting an increase in new transactions.

The new Rics Residential Market Survey found that in the near term, those questioned are still cautious of the current climate, as concerns over the potential impact of Brexit, alongside affordability constraints, continue to cause buyers and sellers to hesitate.

But expectations are more positive for the market in 12 months, with an overall net balance of 16% of surveyors in the UK expecting sales to increase rather than decrease in a year's time.

In the near future, sales expectations for the next three months were "relatively flat" for Scotland.

Despite the cautious outlook, prices are continuing to rise north of the border, the report found.

Short-term expectations among surveyors for Scottish house prices turned positive last month, compared to the month before, although they remain below the yearly average.

In the lettings market, tenant demand declined in the three months to January, with a net balance of -17% more respondents reporting a dip.

Simon Rubinsohn, RICS chief economist, said: "Although some contributors to the survey have taken comfort from a better start to the year than anticipated, a larger proportion are continuing to find the market a difficult one in which to do business."

He added that resolution of the Brexit negotiations is "widely seen as critical to encouraging potential buyers back into the market".

Mr Rubinsohn continued: "Meanwhile, the lettings market is continuing to see instructions fall away as investors respond to the emerging fiscal and regulatory landscape.

"This is resulting in feedback consistent with further increases in rents across the country, to a greater or lesser degree, over the next 12 months."

Download: The STV News app is Scotland's favourite and is available for iPhone from the App store and for Android from Google Play. Download it today and continue to enjoy STV News wherever you are.

One account. All of STV.

This field is required. That doesn't look like a valid e-mail format, please check. That e-mail's already in our system. Please try again.
ShowHide
Forgot password?
This field is required. This must be at least 6 characters long. Did you enter your details correctly?
If you've forgotten your details then use the 'Forgot password?' link.
Need to reset your password?

We'll send a link to reset your password to

We've sent you details on how to reset your password

Please check your email and follow the instructions.

Forgotten your email address?

Have you forgotten the email address that you previously joined with? Don't worry, by emailing enquiries@stv.tv we can help.

One account. All of STV.

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This must be at least 6 characters long.
ShowHide
This field is required. This must be at least 6 characters long.
You must be over 16 to join STV.
This field is required. This doesn't appear to be a valid date
We need this to check that you live in an STV region.
This field is required. This doesn't appear to be a valid postcode
Would you like us to email you about our great shows and services from time to time?
We'll only send emails we think you'll like (see example) based on information you have supplied and shows you have watched on STV Player. For details on emails and advertising, see our STV & You page.
Would you like to receive emails from the Scottish Children's Lottery about draws, instant games and competitions?
We support the Scottish Children's Lottery (SCL), which is managed by our colleagues at STV ELM Ltd. You can find out more about the SCL on its website, including its Privacy Policy.

By continuing you agree to our Terms of Use, and understand our Privacy and Cookie Policies.

Upload Profile Picture

Please make sure your image is under 2mb in size and a valid JPG, PNG or GIF.

Are you sure?

Unfortunately, you'll be unable to access our premium content. We’ll be sorry to see you go, but if you change your mind you can rejoin us at any time.

Please verify your STV account

Please verify your STV account using the email we sent you. If you have lost the email, we can send you another one, just click the button below.

Thanks

We've sent you a new verification email.
Please check your email and follow the instructions to verify your account.

Welcome to STV
Thanks for joining us.

Oops!

Sorry, you must be at least 12 years old to place a vote for your Real Hero.

Please review our Voting Terms of Use for more information.

Oops!

Sorry! It seems that you are using a browser that is incompatible with our voting service.

To register your vote please copy the below URL in to your regular mobile browser. We recommend Google Chrome, or Safari.

http://shows.stv.tv/real-heroes/voting

Oops!

Sorry, you seem to have already voted in this category.

Thanks for voting

Now share your vote with friends on your social network

Share on twitter Share on facebook

Cast your vote

Please register or sign in to continue.

Cast your vote

This field is required. This doesn't appear to be a valid date

Cast your vote

Please fill out this form to cast your vote. As you are under 16 years old you will not create an STV account. Why do we need these details?

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This field is required. That doesn't look like a valid e-mail format, please check.
Location This field is required.
Parental Consent This field is required.

That's you. All that's left is to click the 'Submit Vote' button below. By doing so, you confirm that you and your parent or guardian have read and accept our Voting Terms of Use, Privacy Policy and Cookie policy, and that the details you have entered are correct. We'll look after them as carefully as if they were our own.