There has been a “sharp decline in demand from buyers, with a drop in sales in May” according to surveyors in Scotland, reports the BBC
Rics Scotland, a professional body, reported this fall in demand and said: “supply had now failed to keep up with demand for much of the past three years”.
They also found that:
“A net balance of 13% of surveyors reported a fall in demand
A net balance of 8% saw sales fall
Prices are expected to rise in the coming months by a net balance of 15% of respondents”
Rics Scotland director, Sarah Speirs said:
“Across the UK, it appears that we are looking at a short-term drop in house prices caused by the uncertainty resulting from the forthcoming EU referendum,
“Coupled with a slowdown following the rush to get into the market ahead of the tax change on the purchase of investment properties.
“In Scotland, prices looks set to remain firm, despite a dip in activity, as demand continues to outpace supply.
“…from new supply to improving the poor condition of the country’s existing housing stock and developing plans to bring back into use Scotland’s 27,000 long-term empty properties, more needs to be done to address the current imbalance.”
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