Scottish market demand fails to match UK levels

Demand in the housing market failed to pick up in Scotland despite improvements in other parts of the UK, according to a survey out today.

The Royal Institution of Chartered Surveyors (RICS) said some areas saw increased demand in the run up to the end of a stamp duty exemption in March.

Simon Rubinsohn, RICS chief economist, said: “Many parts of the UK saw demand increase in the run up to the stamp duty holiday ending, but this wasn’t the case in Scotland.”

The RICS survey for March showed that five per cent more surveyors reported decreases than increases in new buyer inquiries. The flow of new properties coming on to the Scottish market showed a net balance of 13 per cent more respondents reporting rises in new instructions from vendors.