More houses in market in Scotland, experts

UK HouseExperts have said that the number of homes in the Scottish housing market has increased as the sector continues to record strong recovery.

According to chartered surveyors, a total of 44 per cent of the experts said new instructions increased in December, which is the highest proportion in the UK. The survey also showed that 55 per cent more experts reported a rise in new buyer inquiries in Scotland indicating that the demand for homes increased in the region.

The housing market strengthened due to expectations of strong performance during 2014 because of shortage of houses in the market in the UK. The Royal Institution of Chartered Surveyors (RICS) has said that net balance of 61 percent of surveyors forecast prices would rise over the next three months compared to 59 percent in November. The level of 61 per cent is the highest since September 1999.

The survey showed that prices increased all sectors of the housing market. It also showed that the housing balance eased to +56 in December from November's +58. The housing market in the UK has improved due to falling unemployment, low interest rates and government programmes.