DM Hall responds to latest RICS Residential Market Survey

The latest RICS UK Residential Market Survey has been released and highlight stats for December. The Scottish figures do not influence the main headlines therefore we have analysed the Scottish stats and the main results include:

  • Prices in Scotland have remained constant in December compared to previous three month average
  • Enquiries in Scotland in December are lower than the previous three month average
  • New vendor instructions are down in December compared to the previous three month average
  • Price expectations for the next three months is still high although down slightly based on the previous three month average
  • Sales expectations for next three months are still positive but again down compared to the three month average.

So what can we take from the above findings? Well the figures are for December in what can traditionally be a quieter time with the festive season and the public generally more willing to wait until the New Year to think about moving home so the drop in certain activity isn’t surprising. To some extent, December is a standalone month and while the survey compares the month’s figures with the previous three months, what would be better is to compare it to December in 2015.

The real examination will be January figures – has the Scottish housing market started the year positively? So we await with interest these figures. We would expect the results to have a jump in enquiries and hopefully more properties on the market, which the market so desperately needs.

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2018-12-18T10:48:12+00:00