Page last updated at 00:34 GMT, Tuesday, 15 September 2009 01:34 UK

Surveyors upbeat on house sales

Browsing an estate agent's window
Some surveyors believe house prices are on the rise again

Scotland's property market is showing further signs of recovery with figures suggesting people have more confidence in the value of their homes.

August data from the Royal Institution of Chartered Surveyors (RICS) revealed more properties were put on the market.

RICS said the market may have been buoyed by the belief the housing slump is now over.

The study also suggested the slump in house prices had bottomed out and property values were once more rising.

The RICS August survey of its members showed the net balance of surveyors - the number of those reporting a rise in new instructions minus those reporting a fall - showed that 18% more had seen more new properties placed on the market than those who had not.

The number of surveyors reporting a rise in new instructions increased by 6% from July, and 33% from June.

Of those surveyed, 74% more said they had seen a rise rather than a fall in buyer inquiries in August as opposed to those who had not - a quarter more than the UK average of 49%.

'Rising prices'

The poll of 16 Scottish chartered surveying companies also suggested the slump in house prices had bottomed out and property values were once more on the rise.

A total of 33% of chartered surveyors said they had seen a rise in house prices in Scotland in the past three months.

But more than half - 56% - said prices had stayed the same, with 11% claiming prices had fallen further since June.

Sarah Speirs, from RICS Scotland, said it was "clear" that house prices were now rising.

"The more positive news flow of rising prices will gradually encourage even more vendors to start putting property back on the market," she said.

"This development should enable more potential purchasers to find desirable properties to buy. However, it could also present a challenge to the trend in rising prices particularly when interest rates finally begin to move upwards."



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