Surveyors predict continued rise in Scottish house prices and private rents

Residential housing sale and letting signs are seen in Hastings in southern EnglandScottish house prices are expected to increase over the next three months, according to surveyors.

The latest Residential Market Survey from the Royal Institution of Chartered Surveyors (RICS) found a net balance of 26 per cent more chartered surveyors expect house prices to continue to drifting upwards after climbing in April.

Demand for residential property also grew to continue to outpace supply, as new properties coming onto the market increased during April for just the first time in three months.

Rents are also expected to rise further during the next three months following a “noticeable decrease” in rental properties coming onto the market during the first quarter of the year.

Sales remained steady across the country in April and the growth in activity is expected to continue, with a net balance of 36 per cent more respondents predicting an increase in Scottish residential property sales over the next three months.

Sarah Speirs, director of RICS in Scotland, said: “We are seeing a welcome increase in properties coming on to the market and we hope this will continue in coming months. However, as demand also continues to grow, this supply will not meet market needs and we call on the newly elected Scottish Government to make the increase of housing supply across all tenures a priority.”

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