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Rics reports further pick-up in housing market

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The housing market is showing a continued rise in sales and inquiries, according to chartered surveyors.

New buyer inquiries and newly-agreed sales rose for the third consecutive month in April, the Royal Institution of Chartered Surveyors (Rics) found.

The survey is in line with a separate report by s1homes, which recently recorded a rise in inquiries and sales but found the average property went for a 10th less than the asking price.

The Rics suggests surveyors remain upbeat about house prices in the months ahead. More than a quarter predict rising prices in the next year.

The housing survey follows a number of other reports released this week which suggest Scotland’s economy is showing signs of recovery.

The Bank of Scotland recorded a rise in business activity and employment in April, Scotland’s three main airports saw more passengers last month than at the same time a year ago.

And Aberdeen Chamber of Commerce reported a rise in investment and activity in North Sea oil and gas last year.

Rics Scotland director Sarah Speirs said: “It is encouraging that the Scottish housing market continues to indicate that we are moving away from the highly negative figures witnessed in previous years.

“However, despite this, activity is still much lower that pre-crisis norm and action is required to increase finance and give the market the real thrust that is required.”

Thomas Baird, registered valuer at Select Surveyors in Glasgow, added: “We are expecting the number of property sales to increase over the next six months and a slight increase in valuation to reflect this.”