According to a new survey, Scotland's housing market has slowed to its lowest level in a year as investors wait for the decision of the referendum in independence.

The Royal Institution of Chartered Surveyors (Rics) has said that the growth in the number of people looking to buy was the slowest rate since April in the previous year. Data has shown that lower supply of houses resulted in an increase in the housing prices in the UK.

Rics' latest residential market survey has shown that the increase in demand was due to accessible housing market. The government schemes and easy credit had pushed up demand for housing in the country. A net balance of 24 per cent of the respondents said that they recorded an increase in the number of inquiries from people looking to buy a house. The figure stood at the level of 34 per cent during the month of January while that in December was at 52 per cent.

The data also showed that number of homes being placed on the market for sale did not increase in the market.