Scottish house prices continue to rise, survey suggests

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House prices have continued to rise in Scotland despite dips in other parts of the UK, a new survey suggests.

The latest Royal Institution of Chartered Surveyors (RICS) residential market survey for August found the market continues to be solid north of the border.

While Scotland and Northern Ireland have a positive outlook for sales activity, London, parts of wider South East England, and East Anglia were described as “downbeat”.

In Scotland, there was a net balance of 36% more surveyors reporting an increase in prices, with the market forecast to continue to see positive momentum for the rest of the year.

Sales throughout Scotland were solid during the month, with a net balance of 7% more chartered surveyors reporting an increase.

The survey said figures suggest a further decline in properties for rent in Scotland in August while tenant demand continued to rise.

Simon Rubinsohn, RICS chief economist, said: “It is clearly very difficult to talk about the housing market at the moment without being acutely aware of the marked differences in trends across the UK.

“As the latest RICS results highlights, in many parts of the country, including Scotland, the housing market remains quite firm.

“While a combination of a lack of stock and some level of uncertainty, both relating to the interest rate outlook and Brexit, has had an impact on activity, the overall picture in these areas is still encouraging.

“The story in London and the South East is, as has been widely recognised, rather more challenging but it is important that this is not seen as being indicative of the wider market.”

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