Scots housing market hit by Brexit slump as buyers take a step back

● Surveyors say inquiries are down ● Prices hold up over lack of property

By SCOTT MACNAB Political Editor

“Against this backdrop, there is little possibility of delivering the uplift in supply necessary to address the ongoing housing crisis.”

The Rics UK Residential Market Survey shows nearterm sales expectations for Scotland are also negative.

A net balance of 11 per cent more chartered surveyors expect a decline in sales over the next three months.

“The market has picked up from a slow start to the year, but confidence is not high amongst buyers and sellers due to uncertainty in the economy,” said Ian Morton of Bradburne & Co.

But house prices in Scotland remain strong as the decline in new property going up for sale continues in line with recent surveys.

Demand from potential buyers has consistently outpaced new instructions across Scotland for several years now.

A fifth of respondents to the Rics survey reported a rise in house prices across Scotland.

Scotland and Northern Ireland are the only parts of the UK to have seen sustained price growth on a consistent basis, over the past two months. Despite this, the outlook is slightly less positive, with price expectations for the Scottish market flat over the next three months.

0 Brexit has been blamed for a fall in inquiries from new buyers last month